Quote from Mr VS Parthasarathy, Mahindra Group CFO, post Budget 2017
- Growth with discipline and focus on ‘Bharat’, Youth, Infrastructure & Affordable housing are great contents with positive intention.
- Budget 2017 reaffirms Government focus on Agri and Rural sector. Initiatives in Agri and Rural sector like higher allocation for Agri loan, and overall Agri & Rural development, focus on contract farming & dairy and higher allocation to MGNREGA and PMGSY are on the right direction to make both the parts shining – ‘Bharat’ and India.
- It was commendable that growth objective was not compromised despite tighter fiscal discipline. Keeping deficit capped at 3.2%, hopes for further rate cut by RBI in near future have increased. Future growth in an environment of low inflation and low interest rates.
- Affordable housing and status as infrastructure, augurs well for housing sector and needy. This will balance the demand and supply in the housing sector.
- Providing additional Rs 10,000 Crores for recapitalization of Banks are in positive direction and hope that minister would be able to find additional resources as promised.
- Continued focus on key initiatives like Skilling India and Stand-up India augurs well for the economy.
- Transparency in political sphere augurs well for a transparent and well administrated economy.
- Besides growth objective, reformist approach is also maintained by abolishing FIPB, which will be an enabler for ease of doing business in India.