Budget Quote | Ramkrishna Forgings | Commercial Vehicles, Infra and Personal Taxes

Lalit KhetanExecutive Director and CFO of Ramkrishna Forgings.

” I can confidently say that the overall budget for the auto sector stands well managed and good. There have been several initiatives by the government to utilize a portion of their funds on the scrappage policy. . Now, the main challenge that lies ahead is to successfully implement the policy on a large scale, which will directly depend on the involvement of the public at large. If the people take active initiative regarding the same, the sector should see significant progress in the coming days.

It is concerning to see a fiscal deficit of 5.9%. This is not a sustainable level of deficit and needs to be addressed. While the announcements made for steel will in all likelihood help the sector, it is unlikely to have a lasting impact. The government will need to carefully implement policies, considering the public’s participation and needs, as their ultimate assessments of the policies and how useful they are will play a key role in the success of the policies.

As a long-debated issue, the personal income tax is finally being addressed with a much-needed and welcome relief. A move towards fairer taxation of equities and capital gains was expected, and while we haven’t seen any such initiatives yet, there is still hope for a more equitable and efficient taxation system in the near future.”