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Banmali Agrawala, President & CEO, GE South Asia
“The Finance Minister has presented a highly pragmatic budget that provides a good balance between increasing capital outlay and restricting fiscal deficit. By reiterating its resolve to stay on the path of fiscal prudence and taking steps to plug leakages of subsidies by direct transfers, the government has given the right message. The budget is a roadmap for demand generation which in turn will attract investment, create jobs through manufacturing and entrepreneurship, all of which play a vital role in the success of the ‘Make in India’ campaign.
The focus on building infrastructure through innovative financing models, better balance of risks between private sector and government and initiatives such as pre-approved clearances, are welcome steps. We appreciate the “green focus” on energy by encouraging renewable energy and levying a cess on coal which will reinforce India’s commitment to the environment within the international community.
Going forward, with a much higher share of revenue now being given to the States, there is a need to ensure that the States spend the money judiciously and there is better coordination between various States and between the States and the Centre. The overall direction of the budget is appropriate and will further inspire confidence of the global business community in India.”
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