Our budget expectations are in line with the rest of the industry. We hope it will be a development-focused budget that targets a growth rate of 8 per cent and includes measures to infuse positive sentiments for rejuvenating the overall economy.
We hope the government will make announcements that will not only attract investments, but will also help nurture an innovation ecosystem. Such an ecosystem will be a key factor in driving sustainable growth in the years to come.
The 'Digital India' initiative launched by the government in August last year places technology at the core of its vision of achieving country transformation.
It also envisions a larger role for the private sector, and this gives us to reason to believe that the outlook and prospects for this sector will be enhanced under the budget.
The government has announced plans for setting up 100 smart cities across the country. In the interim budget presented last year, allocations to the tune of Rs 7,060 crore were made towards this initiative.
The industry expectation is that the new budget will include specific announcements to further facilitate this program.
While the business environment has been positive in the last few months, there is a sense of expectation within the industry for policies and reforms that will place India on a growth fast track.
One area for potential reform is taxation. A stable and rationalised tax regime will go a long way in creating an environment that is conducive to growth and job creation.
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