"The sound bites in the first part of the budget were sweet. The stress on preventing migration from villages to cities by improved ease of living in villages and cities alike, codified labour law, a new education policy are laudable policies" "Fresh capitalisation of banks, purchase of assets of high rates NBFCs upto Rs one lac crore by banks and stricter RBI control on NBFCs and HFCs is laudable" "Sovereign global debt of India being less than 5% of GDP is great, encouraging government to borrow from global market" "Increase in 'lower corporate tax' coverage to 99.3% companies commendable. TDS on large cash withdrawals is one more step for digital India" "Increase in surcharge on higher income tax is very harsh on salaried class. Need for fixing a realistic cap on total effective income tax rate. "

An improvement on the interim budget with a number of reasonably good proposals on disinvestment, bank recapitalization , and quite a substantial discount on affordable housing in taxes. Focus on affordable housing and infrastructure is noticeably higher compared to earlier budgets. Commitment to restrict fiscal deficit at 3.30 per cent compared to 3.40 per cent is a good intent but we need to look at the revenue assumptions more closely to draw more comfort. A partial dependence on external markets for government borrowings may help the govt meet the borrowing targets but the dynamics of currency management and its impact on yield movements should not be ignored.

"The Budget 2019 has been presented in the backdrop of a decisive electoral mandate, stable macro-economic parameters and slowdown in economic growth and employment. The Budget has thrust on investment by government, re-capitalization of banks by Rs.70,000 crores and aggressive public sector disinvestment target of Rs.1,05,000 crores. There are measures to attract foreign investment by raising sectoral caps for aviation, media, insurance and other sectors, raising limit for FII investment in listed companies from 24% to 49% and integrating NRI Portfolio and FII Investment schemes. The consolidation of multiple labour laws in to 4 codes as and when implemented can transform the archaic labour law regime to more integrated consolidated regime (similar to GST reform for indirect taxes). There is a thrust on affordable housing and start-ups with several benefits and relaxations. There is no structural change in corporate tax regime except that now companies up to an annual turnover of Rs.400 crores would qualify for the lower rate of tax of 25% (plus surcharge and cess). The steep increase in surcharge on personal tax front for income exceeding Rs.2 crores and Rs. 5 crores will impact a small segment in number but having a significant influence on the economy. The additional interest deduction for affordable housing loan and electric car purchase will benefit the middle income group. Overall, it is a good budget with several statements of intent and thrust on investment but no major structural change on the direct and indirect tax regime."

Pruning of GST rates has caused relief of over 92 crores.Taxpayers having income of over 5 crores to file quarterly returns and issuance of e-invoices from Jan 2020 will improve ease of doing business.A cap in the feather is the possible repeal of e-waybill provisions upon introduction of e-invoices having direct linkage with return filing.Huge pending litigation from pre-GST regime to the tune of 3.75 lakh crores. It is therefore proposed to have a Legacy Dispute Resolution Scheme to expedite closure of past Service tax and Excise Duty matters. India to be a global hub of manufacturing Electric Vehicles ('EV'). A slew of tax reforms announced, inter alia, GST Council moved to lower rate to 5% from the existing 12%

Lower corporate tax of 25% for companies with turnover up to INR 400 crore, will boost funds available for investments in capex, R&D and growth.Finally a booster shot, NBFCs to get funding up to 1 lac crores from banks by a partial credit guarantee from the government. This will improve credit flow in the economy. A progressive system of taxation requires the richer to be taxed at a higher effective rate and the proposed additional surcharge can help in reducing income inequalities. The devil of angel tax seems to be finally eliminated and several administrative measures announced should mitigate undue harassment of start-ups. Responsible and honest taxpayers duly acknowledged by FM - keep calm and pay your taxes

Start-ups given impetus by introduction of tax sops and a dedicated TV channel for awareness, in pursuance of Make in India initiative. Plans to set up a global hub for manufacture of electric vehicles in India, GST rate cut for electrical vehicles from 12% to 5% and tax redemption to encourage purchase of electric vehicles, in lieu of government's commitment towards green India

The legacy dispute resolution scheme is a widely expected move, not only to reduce pending litigation but also to bring in a onetime additional revenue to the Government. We of course need to wait for further details on how interest and penalty amounts are handled as a part of the measure.With the objective of Make in India, the customs duties of certain finished goods are being increased while the customs duty is being reduced on some of the items. This will not only give a filip to manufacture in India but will also avoid the outflow of forex towards the same. In essence the customs duties are being rationalized.Auto population of data in the pre filled income tax return, will not only reduce wastage of time but also will ensure that there is no seepage of taxes to be paid by the income tax payer. The faceless assessment that is to be carried will reduce the prerogative of assessment proceedings.In light of the Make in India program to manufacture electric vehicles, not only interest subsidy is given to the loans to purchase electric vehicles, but the GSTn council has been asked to reduce the GST rate on electric vehicles. With an aim to phase out usage of traditional fuel for sub 150 CC vehicles by 2025, this would be a very good move to encourage use of electric vehicles.The one lakh crore reduction of NPAs in banks is a very healthy trend to clean the ill of the banking industry. The additional provision of 70000 crores to the capital of the public sector banks will also ensure additional restoration of financial confidence - NV Raman, Partner/ Indirect Tax, BDO India.Additional RBI jurisdiction on NBFC will effectively monitor and control the functioning of the NBFCs, however the regulatory perspective should not come in the way of normal functioning of NBFCs

"Complete tax rebate up to Rs. 5 lacs is a populist measure, however it is important to understand how the loss of tax collection equaling ~ Rs.18500, will impact the overall economy, Partho Dasgupta, Partner/ Tax & Regulatory Services, BDO in India"

"An interim budget by an interim FM still with clear focus on long term fundamentals along with targeted proposals crucial to address the current economic, political and social situation. The interim budget focused on inclusive development and tax concessions. Policy announcements for agriculture & allied activities, rural communities and welfare of the workmen is outlining the Government's vision statement for the next term."

Capital exemption on sale of one house property extended to two. Keeping in mind the current real estate price, the move does not look to be that beneficial for Aam Janata

Extending the time limit for completing affordable housing projects to earn a tax holiday under 80IBA, this will bring a breather for some projects which have struggled to complete for various reasons

"Taking Digital India one step further, the government's focus now also includes programmes for further development and promotion of artificial intelligence which has displayed tremendous potential through numerous Indian start-ups"

"Long term focus on electric cars with continued growth of road infrastructure, indicates some of the key policy developments expected in this area. Focus and investment in the fields of biofuel and renewable energy would not only reduce dependence on conventional and scarce fuel sources but also address global environmental concerns"

"Substantial growth in direct tax base, both in terms of number of tax payers and tax collection, should allow for reduction of direct tax rates"

"Government aims to completely digitalise income-tax return verification and scrutiny over the next 2 years, phasing out human intervention. Anonymous scrutiny assessments using a back office, if implemented well, would go a long way in improving the image of the Indian revenue system across tax payers. This coupled with the promised non-adversarial tax regime, would also enhance overseas investor confidence in the Indian tax system."

"This is a complete budget which covers farmers, workers, pensioners and the salaried middle class. Under Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 a year would be transferred directly to bank accounts of marginal farmers with less than 2 hectares of land in three installments. The assured income scheme would help farmers enjoy a respectable life. The Minimum Support Price would be increased 1.5 times which helps 20,000 small and marginal farmers making this a farmer's budget. The Government announced a mega pension scheme for workers in the unorganized sector. Workers would get Rs 3,000 a month after the age of 60, under Pradhan Mantri Shram Yogi Mandhan with contribution of Rs 100 a month. This could be the World's biggest pension scheme in 5 years. This would help nearly 10 Crore poor workers like drivers, plumbers, barbers earning a monthly salary less than Rs 15,000. Individuals earning an annual income of Rs 5 Lakhs will not pay income tax. This is a surgical strike on problems plaguing the middle class. Better still individuals with gross income up to Rs 6.5 Lakhs will not pay tax if they make investments in provident funds and prescribed equities. This could well be a godsend for the salaried".

"The interim budget of 2019 has rightly addressed social issues encompassing the needs of the all rungs of the society. This comprises the provision of income support to farmers, affordable healthcare, especially in rural India and a boost to educational institutions with focus on science, technology and research. The focus on agriculture, healthcare and technology for the next decade is quite timely and needed. It is encouraging to see these areas listed as part of the Government's Vision 2030. The scope for working with these sectors is immense. This will definitely encourage more companies to help the people at the bottom of the pyramid towards growth and development. Menterra's impact-focused VC fund was launched to invest in and support companies that use the power of technology to improve quality of farming, healthcare and education in our country. We will work closely with the government to address the important developmental challenges for our country."

"A bold and path breaking Budget delivered by the Modi government in its final year of the first term. Government has eschewed populist impulses in an election year & has admirably arrested the slippage in fiscal deficit to just 3.4% of GDP for FY19. The Budget provides a massive boost to the primary engine of growth i.e. domestic consumption through income tax sops for nearly 30 million low-income taxpayers and 120 million marginal farmers. This would go down in history as India's seminal march towards providing succor to the economically disadvantaged groups. Equity markets would rejoice with the force multiplying boost provided to sectors in domestic consumption like automobiles, consumer staples & durables, real estate, building materials, home improvement and retail-focussed banks & financials etc."

"The budget has given a significant boost by putting more money in the hands of the middle class tax payers. It has been proposed that Individual tax payer having taxable annual income upto 5 lakhs shall get full tax rebate. In addition, the standard deduction limit has also been increased to 50,000 per year as against 40,000 currently. The overall limit under Section 80C and Section 24 for interest on home loan have been kept constant. However, since the rebate up to 5 lakhs is on taxable income, your actual exempt income can be 9,50,000 assuming that you utilize your Section 80C investments 1,50,000, NPS limit 50,000 and the home loan interest limit 2,00,000 to the fullest. Also the concept of notional rent on second home has been scrapped. TDS exemption limit on bank and post office deposits have been increased from 10,000 to 40,000 per year thereby easing tax administration for small savers. But the biggest change is on the proposed changes in tax administration over the next 2 years wherein all tax returns will be processed in 24 hours and the refunds will be processed simultaneously. It is definitely a significant budget from the income tax perspective."

"This year’s budget showcased and witnessed many World’s best initiatives run by Indian Government one of them being Swaccha Bharat Schemes. Inflation in December 2018 was just 2.1%, which is all time low and the fiscal deficit & current account deficit was down too. It is seen that USD 239 BN was invested under FDI which makes us an investor-friendly country. I was expecting some GST relaxation to boost the manufacturing and automation segment and we hope we get some attention in the coming time. The Government wants to expand rural industrialization using modern industrial technologies based on the Make In India approach- may be a focused approach will lead to transformation. Overall it looked to be a populist budget and we are eagerly waiting to see a New India 2022."