By: Balvinder Kalsi
I congratulate the finance minister for presenting a balanced, realistic and growth-oriented Budget. In my view, the key message of this Budget lies not in its many specific announcements, but in the overall signals it sends of the government’s intention, that is to boost economic growth. In the last few years, falling domestic investment has been a major concern and I expect that trend to be reversed. I welcome the higher public expenditure outlay since that is likely to fuel domestic demand and investment. If we can achieve a sustained 7-8 per cent growth over the next 3-4 years, while at the same time stay on top of our fiscal deficit target and control inflation, I believe India will once again be a global economic success story.
In particular, I am encouraged by the strong emphasis laid on education and skill development since people remain our country’s, and also a company such as DuPont’s, biggest asset and an investment in enhancing education and skills will go a long way in improving employability and ensuring not just economic growth but also economic development.
I particularly welcome the major thrust this Budget seems to have put on increasing investments in agriculture and improving agriculture productivity, especially the openness towards “new technology” that will help increase farm yields. Another sector that caught my attention in the Budget announcement is the focus on renewable energy sector, especially solar energy projects, with a $83.3 million investment in solar power projects. The best part of this Budget is that there is nothing bad about it. All in all, this budget gets a “thumbs up” from me.
The writer is President, South Asia & Asean, DuPont