 "Budget offers huge scope to build a sustainable growth: KE Ranganathan")
Great job by the FM in presenting a budget which is positive in many directions. Clearly the government has demonstrated its commitment to drive growth post the DeMo effect. Some of the good measures like doubling lending targets, highest ever infra allocation of Rs 4 lakh crore, 10 million houses by 2019, lower interest rates on rural housing loans, lower income tax for certain slabs and small businessmen will surely propel India to grow at twice the rate of global GDP growth.
Attracting more FDI in many sectors and abolishing FIPB will drive large investments into the country. With 'Make in India’ taking bigger shape, the exports are bound to go up. This presents a good opportunity for many SMEs.
As for Public-Private-Partnership (PPP) model, the budget presents many areas where this model can play a crucial role, especially in the infra sector. With the focused approach on the 3 legs of infrastructure namely road, river & railways, the budget offers tremendous scope to build a sustainable growth.
The all-time high allocation of Rs 4 lakh crore in infrastructure sector is bound to channel lot of growth opportunities for downstream industries thereby generating lot of employment. Nation building programs like this are sure to propel our growth for next few years as there is enormous scope in our country.
We must commend the FM and the Government for developmental initiatives in the budget which will truly transform and energise our economy.
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KE Ranganathan is the MD Designate of Roca Bathroom Products Pvt Ltd
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