Budget 2020: Efforts to increase spending on infrastructure, focus on this sector

Jan 14 2020 02:04 PM
Budget 2020: Efforts to increase spending on infrastructure, focus on this sector

India's top corporate leaders are taking steps to create jobs in the Budget 2020. , The same if it is to be talked about to increase spending on infrastructure and to formulate policies suited to agriculture sector. TVS Group Chairman Venu Srinivasan said about the Budget Expectations that the budget to be presented on a date next month should focus on the creation of a job. Ajay S. Shriram, Chairman and Senior Managing Director of DCM Shriram, is urging the government to focus on agriculture. Sunil Kant Munjal, chairman of Hero Enterprise, emphasized on increasing spending on infrastructure. He said that it would be a good thing to not meet the target of fiscal deficit this time as it can benefit the infrastructure sector tremendously.

Apart from this, Srinivasan said, "The creation of jobs is one of the most important issues .... Growth is the most important along with creating jobs basically". Shriram urged the government to focus on agriculture. He said, "I hope that steps will be taken in this budget keeping the agriculture sector in mind .... which are getting affected very badly." Policies are not proving to be effective in terms of coordination with administration and states. I think there is a need to create an organization like GST for all agriculture ministers to implement the decision of agriculture sector. ''

Finance Minister Nirmala Sitharaman can present the Budget for the year 2020-21 on February 1. Sitharaman is going to present the budget at a time when the pace of economic growth of the country has come down to 4.5 percent in the second quarter of the current financial year. On the other hand, in December, inflation reached an all-time high of five and a half years. Also, in view of rising inflation, the Reserve Bank in December decided not to reduce the repo rate.

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