Tax exemptions in budget to help corporate sector, increase consumption:  FICCI President Somany

Captains of trade and industry have welcomed the budget as growth oriented with focus on farmers, labour and the middle class. FICCI President Sandeep Somany said the concession to small and marginal farmers in the country is a big positive step. He said tax exemptions in the budget will help corporate sector and increase consumption.

The Director General of Confederation of Indian Industries, CII, Chandrajit Banerjee described the budget as good and growth oriented.

CEO and MD of Viacom 18, Sudhanshu Vats said, policy provisions that seek to enhance ease of doing business will help industry grow at a faster rate.NABARD Chairman H K Bhanwala said, the income support for farmers can lead to better productivity as farmers can use the money to buy seeds, fertilizers and farm implements. Chairman of State Bank of India, Rajnish Kumar said the interim budget is growth oriented and will strengthen the purchasing power of the growing middle-class.

The realty industry too welcomed the interim budget saying it will give much needed fillip to the sector. President of All India Association of Industries, Mr. Vijay Kalantri said that relief measures given to real estate sector and increase in income tax limits and TDS will give much needed boost to economy.

In an exclusive interview to All India Radio, Finance Minister Piyush Goyal said the government respects the middle class and has ensured that their family budgets are in control.

Mr Goyal said, with demonetisation and anti-black money drive, the government tax collection has gone up.