Expect focus on consumption, employment and infrastructure from budget: CEO survey

India’s Chief Executive Officers (CEOs) have hoped to promote consumer expenditure in the Union Budget to be presented on 1 February, to speed up the initiative of modernization of infrastructure and emphasize on employment generation. This will be the second budget of the third term of the Narendra Modi government. A survey of business standard conducted between 17 CEOs last week shows that 82 percent of these are expecting steps to promote consumption.
The CEO of a large hospital chain said, ‘Personal tax structure needs to be changed. Until the money comes in the hands of the middle class, consumption will not increase.

According to Crisil, in the last financial year 2023-24, the increase of private consumption in India reached the low-2-decade low, 4 percent. Although there was a fast recovery in the current financial year and it reached 7.3 percent, the main reason for this is the low basis. Managing Director (MD) and CEO of Axis Securities Pranab Haridasana said, “There is a speculation of some deduction in securities transactions (STT), but it does not seem due to the government paying attention to revenue.”

Instead, individual taxpayers may be given target relief, including more discounts under Section 80C and adjustment in the new tax system. This will support consumption. The government had raised expenses on modern infrastructure such as roads, highways and metro, given 70 percent of the people said that the infrastructure sector would be the highest attention in the upcoming budget.

Shubhashish Chakraborty, founder, chairman and MD of Logistics firm DTDC Express, said that in view of India’s ambitious target of creating an economy of $ 7 lakh crore by 2030, the valuable to solve the major challenges related to efficiency, stability and global competitiveness in the upcoming budget have the opportunity. About 53 percent of the response people hoped that the budget will have a positive impact on their business, while 70.6 percent of the CEOs are expecting that employment generation and investment will be promoted.

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In its earlier budget, 76 percent of the people were positively described as positive focusing on digital infrastructure and innovation, while 58.8 percent are expecting that this budget is expecting the government to achieve the government’s target to create an economy of $ 5 lakh crore in the next 3 years from this budget. will gain help in. Knowing the impact of Donald Trump’s fee policy on India, 64.7 percent said that it will be positive.

According to Goldman Sachs, there may be a comprehensive blueprint about the government’s long -term economic policy by 2047 in this budget. It has said in the report that we hope to continue the domestic food supply chain and store management to control employment through labor concentrated manufacturing, loan for MSME, promotion of rural housing scheme and ups and downs.

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