Budget Expectation 2010
On Tuesday, February 9, 2010 11:19 by Sudip BandyopadhyayThe expectation from the Union Budget for the current year is significantly considering the following :
1) The Government is now firmly in saddle for close to a year and has 4 more years to go before the next general elections.
2) Finance Ministry and the government, in general, did get adequate time to ponder over the economic and structural issues.
3) The recently revealed GDP numbers indicate that economic growth is back on track.
4) Post world economic crisis, India is in a unique position to move ahead at a rapid pace by removing the residual structural bottle-necks.
With the above backdrop in mind, we expect the following from the Budget :
1) Calibrated and well thought measures for controlling inflation without affecting growth and the roadmap for gradual withdrawal of the stimulus package spread over the next 12 to 18 months period.
2) Introduction of effective short term and long term measures to facilitate significant additional infrastructural investment by both domestic and foreign investors.
3) Schemes for mobilization of domestic savings through appropriate PSUs for deployment in infrastructure.
4) Concrete steps for taking agricultural growth to its next level, thereby providing necessary impetus for double digit GDP growth.
5) Roadmap for completing the structural reform process through enactment / amendment of pension and insurance regulations.
6) Roadmap for carrying out necessary reforms in the Labor Laws, Commodity Market Regulations (FCRA) etc.
7) Clear roadmap for introduction of GST.
