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Budget packs a punch for infrastructure sector: Ajit Gulabchand

Chairman and Managing Director of HCC says huge expenditure planned for the sector is a welcome move

Ajit Gulabchand 

Ajit Gulabchand
Ajit Gulabchand

The finance minister's acknowledgement that spending on infrastructure spend was inadequate is greatly welcome.

The has given a push to infrastructure and the huge expenditure planned is a welcome move for the sector..

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The promise to create and deepen the debt bond market in India so private sector can raise long term money is a step in the right direction, and addresses a long felt unfulfilled need.

A Bill to help settle disputes, the amendments to the Arbitration Act and the Procurement Law,will go a long way in making Contracting robust.

Recognising and taking on the sovereign risk on PPP concessions, where the risks were earlier cast upon the private sector is a step in the right direction.

India continues to very highly taxed, after taking all applicable taxes it works out to be 46%. The first step to reduce this has started, by reducing corporate tax in the coming year.

Lending sector reforms have also been initiated by creating a monetary policy committee in the RBI and starting a separate debt management agency will aid in bringing financial sector reforms.

Overall a good and in the right direction, no big bang announcements, however, outcome will depend on its implementation according to schedule.

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First Published: Sun, March 01 2015. 17:48 IST