GST from 1 April, 2016: What Adi Godrej wants from Budget 2015

What does Chairman of Godrej Group, Adi Godrej, want from Budget 2015? The chairman of the group that is in sectors ranging from real estate to refrigerators, lists what he would like to hear in the Union Budget this year:

- GST to come in from 1 April, 2016

“An announcement to implement Goods & Services Tax (GST) from 1 April, 2016.   Other things being equal the implementation of GST will add two percent to the GDP growth rate.  This will also benefit manufacturing and exports,” Godrej said.

- Halve MAT

“Minimum Alternate Tax should be reduced to  half the current level.  This will enable companies to take greater advantage of the benefits of the incentives and invest more in manufacturing. This will also increase growth in GDP,” he said.

- Increase incentives for manufacturing

“Global commodity prices are down. Disinvestments can be successful as the stock market is doing well. Future disinvestments and lower subsidies in the next year will help control the fiscal deficit to a large extent. There may  be a surplus in the current account. This is a very good time to increase incentives to the Manufacturing Sector which will aid growth. This will also encourage investments from Indian and Foreign companies.  Limits for the MSME (Micro, Small & Medium Enterprises) should be increased in order to benefit the sector,” Godrej said.