Irrespective of the outcome of elections, impetus to businesses and better regulatory regime should be put in place by the next government at the Centre, according to experts.

In a panel discussion on ‘India’s growth story: From Budget to Elections’ organised by Karvy Finapolis here, MR Vikram, Chartered Accountant, said there was a need for fiscal discipline.

“About ₹10 lakh crore is due to the Centre from the States which should be paid. The next government should focus on serious issues,” he said terming the recent budget ‘an optical illusion’. An interim budget should remain interim but the government had tinkered with institutions without proper homework on major schemes, he added,

Aarati Krishnan, Senior Journalist, BusinessLine , said the government should reduce its role in domestic industry as it had done by facilitating foreign investment.

On the interim budget and next budget due in July after elections, she said stock markets should not give too much importance to it as even if UPA government comes to power, it was unlikely to tinker with schemes announced in the interim budget.

C Parthsarathy, Chairman, Karvy Group said the new government to be formed should consider giving a `regulatory holiday’ in a manner similar to tax holiday to ensure a stable regulatory regime.

Impetus to businesses, boost to employment and rationalisation of agricultural subsidies are also needed, he said.

According to Shubham Agarwal, Chief Executive Officer, Quantsapp, India’s story was like a ‘robotic car’ and more liberalisation, encouraging cross border trade and easy taxation will help drive it better. Senior journalist Kingshuk Nag moderated the panel discussion.

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