You are here: Home » Budget » News
Business Standard

Nationalist, pro-growth Budget: Shree Cement joint MD Prashant Bangur

This Budget is very prudent on the revenue side, with no major change in the direct tax and goods and services tax structures, Bangur says

Topics
Budget 2021 | Shree Cement

Business Standard 

Budget 2021
On the spending front, Budget deficit at 6.8 per cent for the FY22 gives the government enough headroom for investment in strategic areas, according to Bangur

seems to have pulled most of the right levers to yank the economy out of the Covid-induced spiral. I hail the incredible nationalist and pro-growth Budget, which is focused purely on India’s economic development. This Budget is very prudent on the revenue side, with no major change in the direct tax and goods and services tax structures.

However, increase in indirect taxes like Custom’s duty will give the much-need shot in the arm to domestic manufacturing companies in the long term and encourage MSMEs to make in India. This will also generate additional revenue for the government in the short term. With a clear roadmap for disinvestment from non-strategic sectors and few strategic ones, the government is on its way to doing what it does best — governance.

Also, by proposing amendment to the Fiscal Responsibility and Budget Management (FRBM) Act, it creates room for the government to increase capital formation to the much-desired level.

chart

ALSO READ: Budget 2021: Power discoms get second chance, Rs 3.05 trillion for reforms

On the spending front, Budget deficit at 6.8 per cent for the FY22 gives the government enough headroom for investment in strategic areas. The government has rightly identified the problems faced by the country and has appropriately increased spends towards health care and infrastructure. With special focus on further spending on developing roads, ports, rail, metro, power, health, affordable housing, rural and education infrastructure, the country is poised to grow on the backbone of India’s renewed foundation of growth.

Inclusive development is another bold step, where everyone has an equal opportunity to fulfil their goals. The Budget will boost consumer confidence and spruce up demand.

Although it does not give away doles and gifts, it is a Budget for the long-term vision and development of India. It will put India on the path to becoming a $5-trillion economy within the next five years and become a global supply hub of manufactured goods and intelligent human capital. It is now our turn to harness the opportunities the Budget has unlocked.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 01 2021. 22:06 IST
RECOMMENDED FOR YOU