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Insight Into Financial Budget 2016

An insight into the Financial Budget of 2016 by Leading Lawyer in Acquisition and Mergers, Mr. Abhijit Joshi<br>

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Insight Into Financial Budget 2016

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  1. FINANCIAL BUDGET - 2016 Abhijit Joshi’s take on Financial Budget

  2. Introduction • When Finance Minister ArunJaitley released the 2016 Union Budget on February 29, the response was mostly positive. • The budget aims to stick to the 3.5 percent fiscal deficit target, addresses pressing social and infrastructural needs, and, for the most part, uses reasonable assumptions to forecast India’s growth over the next three years. • The Modi government has consistently focused on increased ease of business, opening markets to foreign investment, building India’s industrial sector, and improving transparency in taxation and regulation. • While this budget delivered more on rural and infrastructure spending, it certainly includes some business elements that are worth exploring in detail.

  3. Abhijit joshi Abhijit Joshi is the Founding Partner of Veritas Legal. He was the senior partner and chief executive officer (CEO) at AZB & Partners until November 2104. He has been involved in some of the major landmark deals, such as the Rs 5,150 crore Tech Mahindra - Satyam Computer Services merger, Usd 2.6 billion Tata -Docomo transaction among many others

  4. Abhijit Joshi’s Take on Financial Budget • “The Union Budget 2016-17 is well balanced and progressive. Focus on critical areas such as development of infrastruture and skill development alongwith measures such as job creation are definitely in the right direction. • Reduced corporate tax for SMEs along with simplified tax regime will help augment the investment environment in our country. • Finance Minister announced reducing litigation and providing certainty in taxation is in line with the government objective of reducing the impediments and promoting ease of doing business.

  5. Introduction • This also shows government’s commitment towards reduction of black money from the economy. • The fiscal incentives for start-ups and facilitating fund raising through Fund of Funds will create an entrepreneur culture on one side and more risk taking investors on the other side. • We hope that intention and implementation move seamlessly going forward. • Overall a positive budget aimed at promoting inclusive growth in the country.” – As quoted by Abhijit Joshi • Source: http://www.2indya.com/2016/02/29/budget-comments-abhijit-joshi-md-veritas-legal/

  6. Thank You!!

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