New Delhi, Feb 29 (KNN) As Finance Minister Arun Jaitley successfully presented his second full-fledged Budget in the Parliament today, views and comments are coming from across sectors of the industry.

Let’s have a look at who has to say what on the different announcements:

1.  Announcement – Promoting entrepreneurship by increasing the turnover limit under Presumptive taxation scheme to Rs. 2 cr, targeting to disburse loans worth Rs. 1.8 lakh cr under PM Mudra Yojana and providing 100% deduction of profits for 3 out of 5 years for start-ups.
 
Response - Raising ceiling of presumptive taxation level from R 1 Cr. To 2 Cr. Is a  welcome step, but MSMEs were expecting a higher ceiling as even majority of the  micro enterprise have turnover of more than 2 cr.
                    -Debashis Bandyopadhyay, Policy Expert, FISME
 
2.  Announcement - Government of India will pay the Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment
 
Response- Providing tax rebate for the initial years  for employers’ contribution  to the pension schemes is a welcome step.
                    -Debashis Bandyopadhyay, Policy Expert, FISME

Response - It is a positive step. It will increase the much needed social security.
                    -Manmohan Gaind, Secretary General, MIWA
 
3.  Announcement – Branded clothes to get more expensive.
 
Response – It will definitely impact the garment industry but would not benefit the small industry much as people who are used to buying branded clothes would not go for local clothes.
                    -Animesh Saxena, MD, Nitee Clothing

4.  Announcement - 4% high capacity tax for SUV

Response - We have been suggesting that similar tax should be levied on all categories of vehicles. It will definitely have a negative impact on the businesses.
                    -Vinay Sanghi, Secretary, FADA

5.    Announcement - Small shops should be given the choice to remain open on all 7 days a week.

Response - It is a good move for the shopkeepers willing to do so. However, it would be difficult to implement it keeping in view the demands of the workers.
                    -Pinky Malik, Former President New Market Shopkeepers Welfare Association
 
Response - This is a good move but not everyone would be supporting it because we anyways work for 8-9 hours which is enough for us. Convincing workers to work beyond this would be difficult.
                    -Darshan Lal Kakkar, Palika Bazar Shopkeepers Association

6.    Announcement - More transparency in PPP

Response - Introduction of transparency in public procurement by DG&SD will address a long drawn demand  of FISME but the transparency should not be limited to e-procurements only, it should work to removal of the ubiquitous  L1 system also which is the core reason for corruption in public procurement and  poor product quality.
                    - Federation of Indian Micro and Small & Medium Enterprises (FISME)
 
(KNN Bureau)