Comment of Mr. Ajay Singh, Founder, SpiceJet Ltd. on Union Budget 2015-2016

Mr. Ajay Singh, Founder, SpiceJet Ltd. comments on Union Budget 2015-2016

Mr. Ajay Singh, Founder, SpiceJet Ltd.

“The vision for the double digit growth is very encouraging. The budget appears to lay a roadmap for lower taxes, simplification of process and ease of doing business and investment in infrastructure sector. The proposed bankruptcy law which I expect will be akin to Chapter 11 provision present in US will help unshackle massive investments which are stuck in stalled projects.

The FM’s thrust on reducing subsidy leakages, increasing transparency with use of technology and minimizing the circulation of black money will go a long a way in improving the economy.

Plug and Play Projects, re-look at the PPP framework, reduction of litigation, introduction of MUDRA bank, social sector schemes, Pension funds, make this year’s budget a budget of ideas and if implemented well should lead to great growth in the Indian economy.

The proposal to increase visa-on-arrival to 150 countries is a welcome step that will boost tourism as well aviation in the country. Moving towards a unified regime of GST will also help in unifying the taxes across the country and will be helpful to the aviation sector.”