The Union Budget presented before Parliament by Union Finance Minister, Arun Jaitley for the year 2015-16 is a comprehensive budget giving boost to trade and business. Cosmos Bank’s Chairman, Krishnakumar Goyal specified that this budget has not addressed any issues pertaining to Urban Co-operative Banks and do not have any concrete measure for their development.
In his detailed statement, Goyal said that this is the first full budget presented in the Parliament by Union Finance Minister, Arun Jaitley. He has declared various schemes for women, middle class, farmers, traders and entrepreneurs. This shows that the Union Budget is comprehensive. This will give boost to industry sector. For SME Development ‘Mudra Bank’ concept is also give a boost to that sector.
Union Finance Minister has declared some tax rebate for furthering business, industry and trade. Goyal also pointed out that this budget is with a vision for the future and has financial packages for various sectors which should be welcomed. He said that co-operative banks are disappointed as they didn’t get the expected rebate in income tax in this Union Budget.
