Building on buoyancy: A K Purwar

Fiscal consolidation, rationalisation of the tax structure and continuing reforms are salutary steps indeed.

Economic reforms, fiscal consolidation and tax reforms, along with a thrust on agriculture, infrastructure and small industry, augur well for growth and investment in the country.

The Budget has sought to build on buoyancy in the economy and is marked by fiscal consolidation, tax rationalisation and continuing economic reforms.

Accordingly its thrust on agriculture, small industries, infrastructure and industry is aimed at laying the foundation for sustained economic growth.

The gamut of capital market reforms, reduction in customs duty to align it closer with ASEAN levels, deepening of financial sector reforms, increase in FDI in mining, trade and pensions, dereservation of items under SSI are all measures that will reassure investors.

Along with Government's resolve to give a big push to economic reforms, these measures will help accelerate domestic investment including inflow of foreign capital.

In sum, the Budget is reform oriented and has drawn up a clear roadmap to push growth into a higher growth trajectory. It is pragmatic, balanced and growth-oriented.