Budget is growth oriented as government focuses on infrastructure: Giles Everitt

The union budget is encouraging, focused and growth oriented, as the government is building momentum to bring a positive overhaul to the economy. The strong focus on infrastructural development through initiatives like hike in investment in infrastructure, allocation of Rs 25,000 crore for rural infrastructure and building 20 million houses in urban India to realise the dream of a roof for each family in India by 2022, are indicators to a positive growth phase.
 
The announcement that the much awaited GST will be introduced on April 1, 2016 will definitely rejuvenate the industry. GST will make manufacturing more competitive and thereby support the ‘Make in India’ campaign so it is imperative that the ministry should move quickly to usher in GST.
 
The government is also looking closely to enhance road and rail services and boost the infrastructure sector, this will be instrumental to drive the overall growth of the country. However, there is no clear direction on excise duties and taxation which would have interested the manufacturing sector.
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Giles Everitt is the managing director of Chryso India