The upcoming Budget must focus on creating demand, encouraging infrastructure spending and increasing outlays for the social sector, India Inc said in a survey released on Wednesday.
India Inc expects the government to continue with its policy focus on strengthening the manufacturing ecosystem, promoting research and development, and incentivising futuristic technologies in the upcoming Budget, the survey by Ficci and Dhruva Advisors said. With the world's largest immunization programme currently underway in the country, time is ripe to further accelerate efforts to reinvigorate the economy, it added.
The upcoming Budget must therefore focus on creating demand, encouraging infrastructure spends and increasing outlays for the social sector. These are the top three macro-economic themes, which members of India Inc would like to see in the upcoming Budget,” the survey noted.
According to the survey, while the growth trajectory has turned positive and the economy is looking up, the need for continuous support from the govt remains. Demand has improved in a few sectors of the economy, but there is a need to watch this trend to see if the improvement continues in a sustained manner.