 "A directional, balanced, growth-oriented Budget, says Deepankar Sanwalka")
It is heartening to see the continued focus and decisive thought around strengthening India’s position as a digital economy through investments around new age technologies. Technology would be one of the most important enablers for the inclusive, equitable and transparent society that the government endeavours to build. Cyber security will be one of the key aspects in securing the interests of stakeholders and citizens in the digital economy.
Impetus for the agriculture sector is welcome, and provisions to provide income security to marginalised farmers and enhance disposable income for the middle-class augurs well for India’s consumption story.
No key measure being announced to increase the government’s revenue is a bit of a dampener as concerns around the fiscal deficit need to be addressed with a sense of urgency.
Deepankar Sanwalka, Partner and Leader-Advisory, PwC India
The Narendra Modi government’s continued focus on infrastructure development, including in the energy sector and the blue economy are big positives; sectors like education and health care could do with further stimuli.
India needs to have sustainable growth, fueled by an entrepreneurial mindset in its heartland. While it is a positive that MSMEs have been kept in mind, impetus for the start-up community is also the need of the hour.
Overall, it is a directional Budget, with the intent to strengthen India's future. As an interim Budget, it is balanced and growth-oriented, with measures to meet short term objectives and also with a long term vision.
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