Budget 2015-16: FM has set direction for balanced, inclusive growth

The Finance Minister has set the direction for a balanced and inclusive growth, emphasising on increasing agricultural productivity, farm income, increasing investment in infrastructure, manufacturing maintaining fiscal discipline as well as raising social spend.

There is nothing specific announced for any particular industry including chemicals & fertilizer industry. However, rationalising subsidies is a welcome step and we look forward to its implementation.

Reduction in customs duty on certain raw materials will help the manufacturers going forward.

The proposal to reduce corporate tax from 30 per cent to 25 per cent over the next four years is a welcome step for the industry and is expected to boost investment as the tax structures simplify.

Proposals underlined by Mr Jaitley under ease of doing business and the focus to support start-ups will also go a long way in encouraging domestic manufacturing.

Further, we also look forward to the implementation of GST, further simplification of tax structures and clarity on PPP opportunities in various sectors, which will give a boost to the 'Make in India' campaign.

The author is Managing Director - Tata Chemicals