Post-budget 2017-18 reaction quote

Mr Aditya Loomba, Joint Managing Director, ECO Rent A Car

The budget was ore or less as per my expectation, as it focused mainly on infrastructure growth like roads, sanitation, affordable housing etc
It also focuses on implementation of recent demonetization and digitalization policies.The HNIs will be taxed more and the tax burden on lower-mid income will be reduced.There was also some tax relief for small businesses which I feel is a good initiative.Personally, I wished there could have been more focus on our Tourism and Hospitality industry as it has a much greater potential for growth and needs suitable investments.We are a large country with an amazing potential for tourism. If the tourism grows, it has cascading benefits on Employment, GDP and general image building of our nation.

Mr. Sanjay Shroff, Managing Director & Founder, Styletag.com

"The budget has an eye on fiscal prudence . The boosts towards infra spends and railway safety will show results in times to come. The focus on agricultural and rural development is welcome. Beginnings towards rationalization of taxes both for corporate and individual incomes is a step in the right direction. This will help both the common man which falls under the middle income group and the smaller companies.The move towards cleaning up political funding is very welcome. For us personally, from an e-commerce industry point of view, the demonetization and the thrust on digital economy is very promising. It will open up further opportunities and a wider market for us.The ceiling of 3 lakhs on cash transactions will also go a long way in ensuring better compliance and shift towards the digital economy."

Mr Shrutam Desai, CO-Founder, Onlymobiles.com

However, there are no direct announcements made with respect to e-commerce sector, i will call it a muted budget but the expectations were also on lower side as we are expecting major reforms only during the GST announcements and subsequent rollout. there are two notable announcements made which will eventually help e-commerce companies (esp those who are in nascent stage) - 01) reduced income tax for people whose income is less than 5L - this will increase the net income of the salaried class and may help to increase the consumption. 02) reduced corporate tax from 30% to 25% - with annual turnover of less than 50 Crore

However, we should also note that ample focus have been placed on improving infrastructure - which eventually bring down the logistic expenses for the e-commerce companies. the result may not be visible in short period but it is govt’s message that they are prioritising the transportation sector.