Enablers in Budget will perk up economy: FDCI chairman Sunil Sethi

Will this Budget help the economy and allow India to stay ahead of global challenges?

This Budget is a good attempt at carrying forward the good work and the direction that India has been moving in over the last few years. The major determinants of economic growth are capital formation and technology, triggered by a well-developed human resource. The huge domestic demand should go up with tax rate tweaks. The ease of doing business is being further improved with PAN being made a common identifier and massive government capex being budgeted. I feel that India will continue to remain ahead of most of the world and also as the fastest growing large economy. The enablers in the Budget will all perk up the economy, attract investors and help to record impressive growth to make India globally more competitive.

What is the best thing about this Budget?

Its balanced approach and proper attention to all sectors – middle class with tax rate tweaks; MSMEs with tax and other tweaks; under-privileged with continuing government sops; and also more social sector schemes being announced. It’s a very pragmatic Budget. It is exciting to know about the encouragement to states for setting up Unity Malls for the further promotion and sale of One District One Product scheme, GI and handicraft products.  

Does the Budget make India a better investment destination?

I think it helps in that area as well. India is already a key player in the China-Plus-One plans, and the continuation of its economic policies. With the government spending significant amounts on infrastructure, the PLI schemes and further steps in the direction of ease of doing business would help attract more investment into India.