Post Budget 2016-17 Comments
of Ashwani Kumar, IBA Chairman &
Dena Bank CMD
The budget is well
balanced since it gives impetus to long term growth and lays a credible road
map of fiscal consolidation. It adheres to fiscal deficit target of 3.5% of GDP
and has come out of prudence on the backdrop of global economic conditions with
a bundle of tax measures to put private domestic and foreign capital to work.
It promotes Growth through its focus on Agriculture, Rural and urban
infrastructure development. The theme of Inclusion is reflected in the measures
taken for the empowerment of farmers, entrepreneurs, rural youth and senior
citizens can be viewed as a long term inclusive growth strategy.
The 4R’s
Recognition, Recapitalization, Resolution, and Reform will revive the Balance
sheet syndrome with Indian Characteristics and will set a new reform path
setting a positive note towards growth of the Banking Sector . The budget has
provided a balanced policy framework aimed at supporting the common man to the
corporate. Acknowledging the fact that the Indian economy had strong
fundamentals and stand out amongst other developing countries, growth prospects
are bright.
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