Mr. V. P. Nandakumar, MD & CEO at Manappuram Finance Ltd

“As Prime Minister Narendra Modi wished, Goddess Lakshmi has blessed the middle class, with Finance Minister Nirmala Sitharaman announcing a large-sized tax relief for this burgeoning population segment in her eighth consecutive budget. The income tax exemption up to ₹12 lakh per annum makes immense economic sense. The tax reduction will put significant amounts of money into the hands of the middle class, whose propensity to consume and save is very high. This will considerably boost private final consumption and household savings, which will add to economic momentum.
It must be remembered that the shrinking Private Final Consumption Expenditure, was the main factor behind the moderation in economic growth in the recent months.”