PD Singh, CEO, India & South Asia, Standard Chartered Bank
“This budget balances the development expenditure needs of the country along with the commitment to stay on course on fiscal consolidation and capex thrust. The consistent push on infrastructure and manufacturing with equal impetus on upcoming technologies like AI are positives to boost medium term growth prospects.
The focus given on skills development and initiatives on industries like pharma and textiles should help in employment generation. At the same time, the additional push given to develop the corporate bond and municipal bond market should bolster the debt markets. To provide an impetus in making GIFT City into a financial hub of international repute is evident in the announcement to double the tax holiday for businesses’ operation. The move is expected to garner greater interest from entities looking to invest in GIFT City.
Finally, the decision on supporting MSMEs, a critical component in the India’s development – will help boost growth by creating a stronger eco system.”
