We believe that this is overall a good budget, with the fundamentals being addressed, which is more likely to benefit the economy and growth in the mid to long term. If the finance minister had gone for an ‘election budget’, with a host of ‘goodies’ being given, it would have only temporarily addressed the issues hampering the country’s growth.

Measures such as easing of foreign investment (FII), de-marking of FII & FDI, incentives for capital investment of over 100 Cr, etc. will increase capital flows into the economy giving it the much needed impetus. The infrastructure & power sectors have been core areas of focus, with several incentives given to assist in recovering the pace of growth. This is expected to have benefits for other sectors as well, for example an infrastructure boom will directly benefit the steel, cement, auto, and other allied sectors; it will also indirectly benefit areas such as hospitality, travel, retail, etc. We believe that the key to growth lies in a bottom up approach, and think that this budget is a good starting point for this.

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