Budget lacks push for manufacturing growth

Budget 2016 will aid economic growth and spur rural demand, but there's little in it for manufacturing or industrial growth, reveals a survey of corporate India. The survey was conducted by Feedback Consulting, a research-based consultancy, among its 35-odd clients. A look at its key findings:

KEY TAKEAWAYS

• Only a third surveyed felt Budget would enable new investments in manufacturing
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• A fourth of the companies felt the impact on manufacturing sector would be negative
   
• An overwhelming 69% of the companies surveyed felt Budget was positive for them
   
• Budget 2016 was seen as pro-poor and keeping to the path of fiscal consolidation
   
• It was seen significantly positive on agriculture, infrastructure and steel sectors
   
• Budget could have rationalised corporate taxes and personal income-tax slabs
   
• Impetus was needed for domestic manufacturing, steel industry, banking