Red Ribbon Asset Management Plc. – Budget Reaction

“The Union Budget 2015 has stood up to our expectation and is well aligned to the visions of Prime Minister Modi’s ‘Make in India’ campaign. The budget’s focus on growth, development, job creation and creating a better environment for doing business in India brings in a lot of positivity for the economy.

Moves such as 100% tax exemption for the first 3 years and new laws for ease of doing business will definitely help in promoting the start up culture in the country. Also, the relaxation in capital gain tax for investment in Funds of Funds and reducing the time frame to two years from three for availing long term capital gain tax benefit in the unlisted space will further boost the investment in startups.

The Government’s vision of ‘Transforming India’ was very well articulated in today’s budget and we believe this is a realistic budget with main focus on rural and infrastructure development while keeping the fiscal deficit in check.”

Mr. Aditya Kanoria – CEO – India at Red Ribbon Asset Management Plc

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