It is a practical and incremental budget, says Sunil Godhwani, Religare Enterprises Limited

It is a practical and incremental budget, says Sunil Godhwani, Religare Enterprises Limited

“Kudos, to the government and Finance Minister for speaking so long on a controversial issue like Corruption initially. It is certainly encouraging and heartening that the Government wants to tackle this issue head-on.

As regards, the budget, it is a practical and incremental budget in continuation with the broader programme announced over the last 2 years, including taking steps towards achieving GST and DTC. Investors were very worried that they may become populist but that was certainly not the case.

Fiscal deficit target achievement of 4.6% for next year will be challenging given the high fuel prices and no 3G spectrum bonanza for the current year but the government is banking on good GDP growth rate for the current year and a corresponding buoyancy in tax collections to achieve the same.”