Exporters hail focus on infra development, express disappointment over corporate tax

The Dollar Business Bureau 

Industry experts have welcomed various proposals announced in the Union Budget 2017 in their initial reaction. They said that it has spelt out some definite measures to facilitate infrastructure development in the transport sector.

The Finance minister proposed a railway outlay at Rs 1.31 lakh crore. He said that the railways will also set up -end-to-end transport solution for some commodities. Allocation to road infrastructure development has also been increased to Rs 64000 crore in FY2018.

The government is also planning to set up a multi-modal logistics park.

While speaking to The Dollar Business before the budget, Atul Kumar, Former Chief General, NHAI, said,” We need funds for national highways expansion and expect the Finance Minister to make some announcements in this regard. NHAI also needs more funds for land acquisition.” He was happy and remarked that the Finance Minister seemed to have heard his appeal.

“Infrastructure has got a good boost with the huge allocation given to roads and railways,” Sudha Pillai, Former Member Secretary, Planning Commission said.

However, Ajay Dua, Former Secret, DIPP, Ministry of Commerce and Industry said, “There is disappointment with respect to the corporate tax which continues to stand at 30%. The finance minister had earlier promised to reduce it to 25 percent.”

“It was the right time to incentivise the corporates but the FM doesn't seem to have considered it,” said Anil Khaitan, Senior Vice President - PHD Chamber.