New Delhi : Union Budget -2012 continues to be debated at various forums
The President of Indian Business and Professional Council, Bharat Bhutani expressed concern over the subsidy burden and the rising fiscal deficit. Dr. Venkatesh from the Amity Group said the retail investor friendly atmosphere has been tried through the Rajiv Gandhi Equity Scheme. India Club Chairman, Ram Buxani expressed concern over the slump in the manufacturing sector and the inflationary pressures.
Leading Indian NRI and educationist, Mohan Valrani welcomed the deferment of implementation of Direct tax code by another year. At the same time, he called for scrapping of DTC provision which allows only 59 days of stay in India for exemption from income tax liability. The existing law says NRIs can stay in India up to 180 days without incurring any income tax on their global income.