By Sucheta Shah
An extremely well structured and a forward-looking budget encompassing all sectors and detailed steps for implementation. The ground level reforms in Health Infra, Agriculture, finance, education sectors have been supported by the necessary acts and regulations from the top level.
The Development Financial Institution, Increase in FDI in insurance and the PSE and PSB divestment will provide the much-needed boost to the financial sector. Tax consistency and transparency are a big relief for taxpayers.
The budget comes when India is trying to get its growth back on track and create enough jobs for its workforce. Hence we think, its overall a growth budget providing huge employment opportunities for the Indian economy.
The development of Infrastructure is fundamental to the revival of the economy and this continued boost from the government will have a multiplier effect on various sectors that provide material & equipment for construction & development.
We believe that the Infra sector will be at a great advantage as each sub-sector, shipping, railways, roads, energy and power has been addressed with specific reforms. Also, the introduction of DFI and a Single security market code will enhance the liquidity in the secondary markets and enable smooth capital market operations.
Overall, the budget is poised to bring us closer to the dream of an Aatma Nirbhar Bharat and positioning India as an alternative global destination for manufacturing and innovation.
The author is Executive Director, Atlas Integrated Finance. Views are personal.