QED Budget highlights 2016 (Click on the link to view the document)
The Indian Government had announced its fiscal budget for the 2016-17 on 29th February 2016. We are pleased to share with you some of the highlights of the budget in the attached document.
This Budget contains a number of tax proposals for providing relief to small taxpayers, incentivizing domestic value addition, encouraging startup and increasing their attractiveness for investment, to boost growth and employment generation, reducing litigation and providing certainty, and for simplification and rationalization of taxation. There are no drastic announcements made in this budget, however this budget has been aligned with the Central Government’s Make in India and Startup India campaigns.
Accelerating investments in infrastructure i.e hard infrastructure and soft infrastructure, stands out as a key priority for the budget. This is also a critical enabler for ease of doing business. Steps have been taken to improve the ease of doing business by making legislations business-friendly and also to make the business environment for start-ups more conducive. It proposes to enable registration of companies in a single day.
The budget is, overall, in the right direction insofar as ease of doing business is concerned. However, it is not an issue that can be resolved in a single budget or through a single action, but is a process and a journey to which this budget contributes significantly
We have put in our best efforts to bring in the key proposals for your attention through this document. I am hopeful that this document serves its purpose.