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Post Budget 2017 reactions | Hero Future Energies

Post Budget 2017 reactions | Hero Future Energies

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Rahul Munjal, Chairman & Managing Director, Hero Future Energies

I congratulate honourable Union Finance Minister, Arun Jaitley for such a proficient budget which is completely aligned with the government’s vision. The key highlights of the 2017 budget is poverty alleviation, rural development, infrastructure spending, healthcare for the poor and women’s right. Reduction of Corporate Tax rate for MSME to 25% from 30%, is a good news for enterprises with turnover less than INR 50 Crores. Specifically in renewables, the announcement of additional 20000 MW solar capacity as part phase 2 needs some clarity. If this target has been set for 2017-18 then it’s a big positive for the sector. Looking forward to a productive year.

Sunil Jain, CEO & ED, Hero Future Energies

Budget 2017 brings good tidings from the government of India. Firstly, the solarization of 7000 railway stations, is a welcome initiation, which is a huge opportunity in itself. In addition, I see huge potential in solarizing unmanned railway crossings. Secondly, continuation with the 5% withholding tax on ECB, is likely to boost raising offshore bonds. The huge boost to infra sector with total allocation of INR 396000 crores is likely to boost economy, jobs, consumption including energy. Hope 2017 will leave behind the initial impacts of demonetization and the economy will be on a positive growth trajectory.

Anand Gupta Editor - EQ Int'l Media Network

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