Reactions to Budget from MetricStream

 

Please find below the budget reaction from Mr. Shankar Bhaskaran, Senior Director of MetricStream. Also, please find attached his picture.

 

1) Mr. Shankar Bhaskaran, Senior Director, MetricStream, the market leader in the enterprise-wide, Governance, Risk, Compliance (GRC) and Quality Management solutions

"Given the current economic scenario, I think it is a very balanced budget in terms of growth and stability. The key focus is obviously on getting the growth rate back to 9% at the earliest with primarily focusing on infrastructure, agriculture and continuous in flow of foreign capital.

It is heartening to see that there are a lot of positive steps taken in the budget to bring the economy back to its normal state, such as, reduction of CENVAT, reduction Of Excise Duties for various sectors including Pharma, Automobile sector, etc., Section 35D benefit extended to service companies, cut on the Customs Duty on project imports will have a positive impact on Engineering and Power Cos.. However, in certain areas, the budget has disappointed the business community, such as, no extension of tax holiday for EOU/STPI. Overall, I feel that the budget is a positive one for India."

 

Regards,

 

Girija