Budget 2014: Implementation of GST should be top priority of Government

By Arjun Handa

With the Union Budget 2014 two days away, industry leaders are hoping some strong measures from the Narendra Modi Government. One of the biggest expectations the business leaders have from the Finance Minister Arun Jaitley is that of the implementation of GST.

"The key expectations in the near term are implementation of GST, revival of the investment cycle and stabilising the rupee," says Arjun Handa Managing Director & CEO, Claris Lifesciences.

According to Handa, "There is a lot of expectation from the Modi government, but it would be prudent not to expect overnight positives, the budget should be a strong budget with minimal populist measures, drawing the road map; for the next 5-10 years; of reduction in inflation and increase in Investments along with FDI."

Finance minister Arun Jaitley will present his maiden Budget for 2014-15 on Thursday against the backdrop of a sluggish economy, weak public finances, gathering risks on the horizon and a huge burden of expectations.

For the lawyer-turned-politician like his predecessor, Jaitley's first Budget on July 10 also presents a historic opportunity for him to press the accelerator on reforms. While the Budget is seen as an income-expenditure report card of the government, the new administration's Budget is expected to contain reform measures to lift growth and get the engines of the economy roaring again. The Narendra Modi government has been voted to power on the promise of reviving the economy and tackling the men.

(The writer is Managing Director & CEO of Claris Lifesciences)