New Delhi: Mint spoke to Avinash Narvekar, Partner, Ernst and Young, to get his first reactions to the Budget 2010-11 and what according to him were some of the important announcements made. Narvekar said the Budget was on the expected lines.
“There is a bit of a withdrawal of the stimulus through increase in the indirect taxes. Not much of a difference as far as Corporate tax is concerned. But the smart move which has been made is to keep increasing the Minimum Alternate Tax (MAT) and this somewhere times in with the Direct Tax Code objective (DTC) of removing incentives and lowering the tax rates,” he said.
“The personal tax slabs have been increased, putting more purchasing power in the hands of individuals. But this is not very significant move,” he further added.
Narvekar feels that the thrust was on policy announcements rather than individual specific amendments.