Adi Godrej, Chairman – Godrej Group
“Some of the steps taken for the long-term in terms of black money and others will be very useful. Some of the other announcements for the long-term also will be good. For example, the fact that FM wants to bring corporate tax rate to 25 percent in four years time is a good move. At the same time I think manufacturing has fallen between two stools because he doesn’t want to give any new incentives to any sector of the economy because he wants to bring corporate tax rate down but this year he has not brought corporate tax rate, in fact corporate tax rate has gone up because the 2 percent surcharge which he announced he will charge on higher income individuals is evidently applicable to the corporate sector too. So, I feel that manufacturing will not get the boost we expected this ‘Make in India’ Budget to provideâ€.
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