This Union Budget had a lot to offer to India Inc this time. The first of course was the fact that the companies are not sure that GST (Goods and Services Tax) will be implemented anyhow. But, whether it was because of inflation or for something else, the finance minister continued to keep service tax at 10 per cent.

But what was able to get the highest applaud from the industry was the thing that the surcharge tax has been kept at 5 per cent as against 7.5 per cent previously. This directly means that Indian companies are now going to have more money in their pockets.

There has been hike in the minimum alternate tax (MAT), but the rise is quite minimal. It has been raised from 18 per cent to 18.5 per cent on booked profit. That is not all the government has also brought in SEZ into the scanner of MAT.

Corporates are visibly happy about the whole thing. In other major development, the finance minister has said that he would try everything to get back the money from overseas accounts. For the same, they have decreased the tax on dividends towards the lower end.