“Regressive rules had certainly affected the ease of doing business for many organizations and start-ups. However, the government’s announcement of establishing a separate administrative structure especially for ease of doing business will help many organizations benefit in the future. Revision of the definition of small companies by raising the capital base to Rs 2 Cr from the current limit of Rs 50 lakh will give a big boost to companies affecting their monetary status. Though not much of changes have been made in terms of income tax slabs, the move to make changes in tax evasion has instilled confidence in common man that they would not be facing tax harassment. Earmarking Rs 1,500Cr for promoting digital mode of payment and changing the tax audit limit from Rs 5Cr to Rs 10Cr will benefit many and will allow transparency. Hiking of FDI from 49% to 74% is a good move. The announcement that the forthcoming census would be digital shows the government’s initiative to practice what is being preached. On the other end, the emphasis on education, power and infrastructure sector will support the overall development of the nation.”
