Budget 2015: Budget underlines its growth agenda, says Ritesh Jain

Ritesh Jain, CIO, TATA Asset Management

"The government chose to spell out its thought process for the next 4 years through the Union Budget 2015-16, amply evident via measures on simplifying taxation structure (corporate and individual), while removing exemptions, its strong stand on the parallel economy plaguing the country, and its clarity on GAAR, to name a few. While there was some disappointment on the relaxation in immediate FY16 fiscal deficit target, it underlined the government's growth agenda, which is positive. Intent on curbing subsidies and leakages is the way forward. The bigger boost is accepting the Finance Commission recommendations, which enhances the states share, and gives decentralization a leg up, a key positive for state specific development for a large country like India. These are the key long term positives."