Statement from Nilaya Varma, Partner and Head, Healthcare, KPMG in India
Many of the targets set by the Government for healthcare is very welcome and so is the focus on wellness, creating more clinical staff and leveraging existing assets. However, we need to see what is the real extra allocation for making these announcement happen… would have appreciated comment on plan for universal healthcare and infrastructure status.
Statement from Nilaya Varma, Partner and Head, Government and Healthcare, KPMG in India
Model Contract Farming Law, if designed well, has the potential to impact the entire farm value chain including better realization to farmers, bring new investments in farm infrastructure and reduce middlemen.. Incentivization needs to be built for states to implement this fast in letter and spirit.
Statement from Dr. Jaijit Bhattacharya, Partner – Strategy and Economics, KPMG in India on Infrastructure sector
Budget 2017 has focused on infrastructure, including digital infrastructure, increasing private investments, increase consumption and strengthen social sector and safety net, including health and education. The key feature of the budget appears to be several declared deadlines for outcomes such as elimination of TB by 2025, removal of unmanned crossings in railways by 2019 etc. This makes the budget more accountable and it’s impact and progress can be tracked over a period of time. The budget appears to be able to achieve its stated objectives and would help in growth of consumption and infrastructure development.
Statement from Neeraj Bansal, Partner and Head of Real Estate, KPMG in India on Infrastructure status to affordable housing
By granting Infrastructure status to affordable housing, the Government acknowledges that affordable housing industry is an important driver of the economy. Affordable housing developers will now be eligible for several Government incentives, subsidies, tax benefits and most importantly institutional funding. The status could also mean that the Government may release land specifically for affordable housing development in central locations of major urban centres in India.
Statement 2 from Neeraj Bansal, Partner and Head of Real Estate and Construction, KPMG in India
FM has reduced the holding period for land and building from 3 years to 2 years for long-term capital gains purpose. This would help improve invest ability in properties in comparison to shares and stocks where the period is 1 year.
Statement from Santosh Kamath, Partner and Head of Renewables, KPMG in India
“The push on Phase 2 of the national solar programme of 20,000 MW reiterates the Government’s commitment to this sector. The move to expand solarising of the railway stations also sends an encouraging signal to rooftop and distributed solar.”
Statement from Biswanath Bhattacharya, Partner, Infrastructure and Government Services, KPMG in India
The set of initiatives announced seem to acknowledge the challenge that Railways is losing share in both freight and premium passenger services to alternate modes of transport, and hence an integrated approach to improving safety, cleanliness and passenger comfort, and higher levels of service to freight customers through end to end services have been introduced in this budget. The introduction of accounting reforms will also facilitate better management control systems, to track performance improvement, of the Railways.
Statement from Narayanan Ramaswamy, Partner and Head of Education and Skill Development, KPMG in India
The focus on Education and Skill Development in this budget looks at best cursory and customary. There are some bright spots with the set-up of Innovation fund for local innovation in school education, more colleges will be identified for autonomous status and a national testing agency for all entrance exams. There are some announcements of new schemes for leather and footwear. The outlay is not known for these schemes. The 4000 crores for SANKALP targeting 3.5cr youth, Rural Mason training scheme targeting 5lakh youth by 2022 are encouraging. Given the mammoth requirement for skilling and urgency of the need, it is disappointing to see this budget virtually ignoring the support and encouragement needed for skill development and vocational education.
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