BudgetSpeak #10: Suresh Balakrishna: Govt will have to take tough measures

04 Jul,2014

By Suresh Balakrishna

 

To me, it will be a development-focused Budget which means it will be a mixed bag Budget. The government will have to take tough measures. There will be rationalization in tax structure but they will do away with all the retrospective tax schemes which the earlier government was talking of. I hope they will. They will try to drive growth as a major focus in this Budget. May be for retailers, FDI might get a push. There will be some steps taken in the next two Budgets to bring the economic growth on track.

 

Personally, taxes are already a high, they might go up further. I expect that luxury products will get more taxed. Taxes will also go up for people with a higher income though this is not something I am looking forward to but this might happen.

 

Suresh Balakrishna is CEO, BPN India

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