Home >> Advertising >> Article

Ad industry wants Union Budget 2018 to reduce tax complexities

01-February-2018
Font Size   16
Ad industry wants Union Budget 2018 to reduce tax complexities

Ahead of the crucial Union Budget 2018-19, which will be presented today, speculations are rife about its impact on marketing and advertising spends. 
The budget is significant since it will be PM Modi led government's fifth and last full-fledged budget presentation before the 2019 Lok Sabha polls. There are high hopes that the budget will have a populist appeal as four big states - Karnataka, Rajasthan, Chhattisgarh and Madhya Pradesh go to polls this year. This in turn is expected to boost the consumer sentiment and have a positive impact on the overall AdEx.

Speaking about his expectations from the upcoming budget, Suresh Narayanan, Chairman & MD, Nestle India Ltd. said, "One of the key features that I would really want addressed in the budget is the whole agriculture and food processing sector. There is still enormous potential in agriculture and especially food processing that we have as a country. I think that can be addressed in terms of not only the measures to alleviate the agrarian stress that is being felt, it will definitely translate into positive outcomes for food processing. I think food processing cannot only be a key economic driver but can also generate the much needed employment that we look forward to."

As per the latest findings of the Economic Survey of India, the economy is expected to grow on the back of major reforms which would be strengthened further in the next financial year. The survey also states that the series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 per cent this fiscal and will rise to 7 to 7.5 per cent in 2018-19, thereby re-instating India as the world's fastest growing and major economy.

For Ashish Bhasin, Chairman & CEO, South Asia Dentsu Aegis Network, the complexities and inefficiencies in the payment of taxes needs to get addressed on priority. He expects the upcoming budget to address this issue which is also a big concern for the advertising industry. "The fact is that as the economy grows, the advertising grows too. Specifically for the advertising sector, I think the GST has not focused on the services part of it so far. It is supposed to help in the ease of doing business while in reality it's making it very complicated for the services industry. Advertising industry doesn't mind paying taxes but it doesn't want the complexities and inefficiencies in the payment of taxes and I hope they address this issue," added Bhasin.

Kartikeya Sharma says that June has been the best month for sales in the 11 years that the brand has been in India

The newly appointed CEO of ZEE5 on how he aims to have the widest appeal in the OTT space amongst Indian consumers

The VP, Marketing and Communications (South Asia), talks about the company's growth strategy, its focus areas, impact of demonetisation on consumer behaviour and much more

Siju Prabhakaran, South Cluster Head, Zee Entertainment Enterprises Limited, talks about channel's rebranding, extending fiction shows to weekends and much more

right
left
RADIO CITY CELEBRATES ITS 17TH ANNIVERSARY WITH CONCERT, AWARDS AND FUN 5TH EDITION OF TIMES NOW & ICICI BANK’S NRI OF THE YEAR AWARDS GLOBAL INDIANS PITCH CMO SUMMIT BENGALURU SEES TOP INDUSTRY LEADERS AND MARKETERS IN ATTENDANCE DISTINGUISHED JURY COMES TOGETHER TO PICK WINNERS FOR PITCH’S TOP 50 BRANDS PITCH CMO SUMMIT BANGALORE SEES TOP CMOS ACROSS INDUSTRIES IN ATTENDANCE 1ST REPUBLIC TV GULF INDIAN LEADERSHIP SUMMIT & AWARDS HONOUR STALWARTS OF INDIAN GULF BUSINESS COMMUNITY SONY YAY! CELEBRATES ITS FIRST BIRTHDAY WITH PARTY FOR TRADE PARTNERS THOUGHT LEADERS AND TOP DIGITAL MARKETERS SPEAK @ EXCHANGE4MEDIA GROUP’S TECHMANCH 2018 IN MUMBAI EXCHANGE4MEDIA’S IDMA 2018 RECOGNIZES INDUSTRY’S BEST DIGITAL MARKETING CAMPAIGNS REALTY PLUS UNVEILS COFFEE TABLE BOOK AT 10TH CONCLAVE & EXCELLENCE AWARDS @AHMEDABAD EMINENT JURY CONGREGATES TO PICK WINNERS OF INDIAN DIGITAL MARKETING AWARDS 2018 OFF THE CUFF SEES ‘SWACHH BHARAT ABHIYAN’ MAN PARAMESWARAN IYER IN CONVERSATION WITH SHEKHAR GUPTA EXCHANGE4MEDIA’S LOUDEST.IN HOSTS INAUGURAL EDITION OF MUSIC INC. IN MUMBAI EMINENT JURY CONGREGATES TO PICK IMPACT’S 40UNDERFORTY ACHIEVERS PORTER PRIZE & INSTITUTE FOR COMPETITIVENESS RECOGNIZE STRATEGIC ACUMEN IN COMPANIES DELHI AD CLUB-SAARC AWARDS 2018 RECOGNIZE EXCELLENCE ACROSS CREATIVE, MEDIA & DIGITAL AGENCIES BSNL & CALL2ACTION COMMUNICATION INDIA LAUNCH MOBILE ADVERTISING PLATFORM, INFOMO IN NEW DELHI CHILDREN’S RIGHTS ACTIVIST KAILASH SATYARTHI LAUNCHES BOOK ‘EVERY CHILD MATTERS’ SENIOR JOURNALIST VIJAY TRIVEDI LAUNCHES BOOK ‘YADA YADA HI YOGI’ BASED ON YOGI ADITYANATH EMINENT JURY CONGREGATES TO PICK IMPACT’S 40UNDERFORTY ACHIEVERS

John Immesoete talks about the changing role of CCOs in the digital era, new agency models and more

Guenther Sproll of Germany's Liebherr-Hausgeräte on his game plan for the Indian market, product pricing and more

By launching its global Generosity Campaign in India, Cadbury now explores the theme of Achhai (goodness), building on its strong proposition of Kuchh Meetha Ho Jaaye