No harm in fiscal deficit slippage if capex gets major boost: Ficci head

In an interview with Business Standard, Rashesh Shah also said that tax incentives for capital expenditure were a key issue

Recently elected president of industry body Ficci (Federation of Indian Chambers of Commerce and Industry), RASHESH SHAH, chairman of financial services major Edelweiss, tells Subhayan Chakraborty that increasing the fiscal deficit to 3.5 per cent of gross domestic product (GDP) may not be a bad thing if capital expenditure gets a major boost. Also, the norms for non-bank financial companies (NBFCs) should be brought on a par with those of banks since they now form an important channel for smaller firms to get credit, he argues. Edited excerpts. 

What are the key Budget recommendations Ficci has given the government?

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