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Industry Reaction - Budget 2008
Mr H.S.Bharana - Chairman - Era group
We welcome Mr. Chidambaram’s proposals of providing 5-year tax holiday for setting up hospitals in non-urban cities/tier-2 and tier-3 towns and 2-star, 3-star and 4-star hotels in UNESCO declared world heritage sites. The proposed increase in expenditure on the development to National highways is another positive move. These will certainly give a further boost to the infrastructure sector of the country.
On the other hand, Corporate India had been expecting a reduction in corporate tax atleast in the surcharge, which has not happened. Secondly, the proposal with regard to the introduction of certain tax sops for investing in infrastructure bonds is also absent.
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