 "BUDGET: Sector Wise Impact According To India Inc")
The Finance Minister’s ‘well balanced’ Budget elicited quite a positive response from India Inc. CNBC-TV18’s National Editor, Vivek Law caught up with many Indian industry stalwarts and asked them how the Budget faired with respect to their respective businesses.
An expert panel first of members of India Inc consisting of Mr S Ramadorai, Vice Chairman, Tata Consultancy Services (TCS); Mr Anjanikumar Choudhari, President-Farm Equipments at Mahindra & Mahindra (M&M); Sumant Sinha, Chief Operating Officer (COO) at Suzlon; Bobby Parikh, Managing Partner, BMR & Co and Mr Subba Rao, Group CFO, GMR Group analyse what the impact of this is going to be on India Inc followed by what is the impact going to be on all our wallets?
Below is an industry wise reaction:
Insurance:
TR Ramachandran, CEO and Managing Director at Aviva Life Insurance said that the parity in service tax was a substantial move for insurance sector, adding that investment-linked health insurance products would definitely see growth.
Information Technology:
S Ramadorai former CEO of Tata Consultancy Services said the Budget was growth-oriented and was overall positive for the IT sector. Appointing Nandan Nilekani to oversee tech thrust is a good move, he added.
“The Finance Minister has been making the right moves; however, implementation of the Budget has been government’s biggest problem.”
Ramodorai further said that disinvestment and the 3G auctions would go a long way to improve the government’s revenue growth.
Infrastructure:
Subba Rao, Chief Operating Officer, GMR Infrastructure feels the Budget should have an increased infrastructure outlay and have more clarity on allocation to urban infra development. However, he said that rural areas would get a big infrastructure push.
Engineering and Construction:
Sumanth Sinha, COO of Suzlon said the allocation for clean energy fund was a welcome move. The proposed coal fund is likely to cross Rs 2,000 crore, this Sinha feels is an innovative step.
For the transcript of the entire interview, click here.
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