Budget strikes a balance between social sector requirements and economic and business imperatives: Rana Kapoor

Key measure to increase the allocation to infrastructure with an impressive outlay of INR 2.2 lakh crore will help re-energize the growth multiplier, while the specific measures to improve ease of doing business and favorable tax treatment for start-ups and MSMEs will go a long way in boosting job creation.

Feb 29, 2016 03:02 IST India Infoline News Service

Rana Kapoor, MD & CEO, YES Bank
FY17 Budget has provided a strong growth direction to the Indian economy. The Finance Minister has managed to balance the need to prioritize social sector requirements with economic and business imperatives. The segmented 9-Pillar approach with well carved out deliverables will ensure execution clarity and focus. By adhering to fiscal deficit aim of 3.5% the Budget creates room for complimentary monetary policy rate cut of 50 bps in the near term and 75-100 bps in 2016, conditioned on favorably evolving macros. Key measure to increase the allocation to infrastructure with an impressive outlay of INR 2.2 lakh crore will help re-energize the growth multiplier, while the specific measures to improve ease of doing business and favorable tax treatment for start-ups and MSMEs will go a long way in boosting job creation.

The author is Rana Kapoor, MD & CEO, YES Bank 





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