Apex industry body FICCI has come out with a survey on the Union Budget for the fiscal year 2014-2015 presented last week by the NDA government. According to the survey more than 50 business CEOs have given thumbs-up to the budget, that was announced amid high expectations.
back to the pre crisis growth level is of paramount importance given
the need to generate jobs and assure inclusive growth. The emphasis
given to sectors like manufacturing, infrastructure, tourism,
textiles and housing, which have the potential to create both skilled
and unskilled job opportunities is indeed applaudable," says
says that, besides the fiscal deficit to GDP target for the current
financial year has been kept unchanged at 4.1%, which is the same as
indicated in the interim budget announced earlier this year. The
government has given a clear signal that it will attempt moving
towards a more efficient expenditure management system and a
rationalised tax framework.
resolve to get back on the path of fiscal consolidation seems strong.
Nonetheless, we will have to wait and watch the implementation
strategy of the government.
addition, government's resolution towards inflation management is
noticeable. The announcements of setting up a Price Stabilization
Fund and working with states in re-orienting APMC Act will help
tackle elevated food prices. Further, measures to enhance agriculture
productivity will enable inflation management on a sustainable basis
in the long run.
this backdrop, FICCI conducted a quick survey amongst its members to
gauge the sentiment post budget. The survey results are based on
responses from about 60 CEOs, who are members of FICCI's National