Well-balanced budget with catalyst role: IDBI MF

India Infoline News Service | Mumbai |

SN Baheti, MD & CEO, IDBI Asset Management, said, the Budget provides strong stimulus to several strong pillars for sustainable economic growth

India's Finance Minister Arun Jaitley unveiled the Union Budget for 2014-15 speech in Lok Sabha today.
The FM said that fiscal prudence is of paramount importance and the Budget aims to lay down broad policy indications.
Stating that he is taking up the fiscal deficit target as a challenge, Finance Minister Arun Jaitley in his maiden Budget speech said, "We will try to meet the fiscal deficit target set for us."
"I have set a fiscal deficit target of 3.6% for 2015-2016," Jaitley said.
"The steps I will announce are only a beginning towards 7-8% growth to be achieved in the next few years," Jaitley said.
The Finance minister has indicated that the present government is taking a long term view for bringing back the economy on track on a sustainable basis. The focus on legislative and administrative reforms is a good indication. Similarly expenditure commission, subsidy overhaul, FDI in many sectors is a very welcome step is executed effectively. The attention given to health care, transportation, education and energy requirements is good.
SN Baheti, MD & CEO, IDBI Asset Management, said, the Budget provides strong stimulus to several strong pillars for sustainable economic growth. Budgetary focus on infrastructure sector, savings and investments will play a catalytic role. Investment in financial assets has been encouraged with measures such as enhancement in personal tax exemption limit and investment limits as well as investor-friendly measures such as uniform KYC norms and single Demat accounts.
Social welfare measures, capacity-building, housing, agri and food processing have been focussed. Overall, a well-balanced budget with a catalyst role.
Read more:
Highlights of Union Budget 2014-15




 

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