Parekh Suggests Large PSU Divestments, Wants Pro-Growth Budget

He added: “We had that investment allowance and accelerated depreciation to start a plant, and something to that effect that will save the tax to the company, something may come.”

When asked whether AAP’s huge victory in Delhi Assembly elections can result in the central government coming out with more populist measures in the Budget, Mr. Parekh replied in negative.

“I don’t think so. I know Delhi is our capital, but it is just one percent of India’s population. Since it is the capital and it is the place where the central government is, it gets so much attention.

“If this election was in Puducherry or in Goa, it would not have created so much discussion, so much havoc or so much press coverage. It is getting undue attention and over-excessive publicity. I don’t think this is the way of things to come. I don’t agree at all.”

He further said that people of Delhi wanted to have cheaper power, regularisation of jhuggis and free water and they appeared to have voted for the same.

“I don’t think this will be followed in Bihar and West Bengal. It is just one instance and I think the BJP has accepted the defeat. He (Arvind Kejriwal) has appealed to the people of Delhi that he can change their life and save some money for them by giving them regularity of power and water...

“But I don’t think you can say that in every state, Aam Aadmi Party is going to win. It is the beginning, it is a lesson, it is something that BJP should look at.

“The only way you can reduce power tariffs is have cross-subsidy. It has to work that way,” he added.
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