My Budget Wish List

Budget must focus on uplifting market sentiments

 

Ravi Sinha, CEO, TRACK2MEDIA

 

While the industry captains of submitted their respective budget wish list to the Finance Minister, I think the circumstances are extraordinary this year. While to a great extent, India has survived the global recession as far as financial fundamentals are concerned, the problem still lies with the crisis of confidence in the market. The threat of a drought year is further aggravating the market sentiments. So, there is a tight rope for Pranab Mukherjee and my personal wish is that it should be a popular budget and not a populist budget.

 

While the government should refrain from largesse, steps must be taken to rationalize taxes so that the small and medium enterprises (SME) sector, which have been hit hard in recent times are revitalized. SMEs are the growth engine of the economy and help sustain certain other sectors like the service sector as well. Even if there are no fundamental changes expected in the present indirect tax regime, I would request the Finance Minister to address some of the prevailing anomalies, which has not only been a cause of distress among the industry but also been a source of dipping market sentiments. 

 

Since many of the SMEs are export driven businesses, in the recent past it has been increasingly difficult to retain business orders and obtain credit. Once hailed as the growth engine of the economy and a priority sector, it would be good economics and policy to rationalize taxes in the budget. Considering the sensitivity of the SMEs to shock the economy, government must take adequate measures in the budget to revitalize the SMEs and the industry as a whole.

 

 

ABOUT TRACK2MEDIA

 

TRACK2MEDIA is a comprehensive communication consultancy company where we strategise the marketing and networking needs of the corporate houses. Brand Building Strategies, Public Affairs and Government Networking are some of our core areas of expertise. TRACK2MEDIA is at offering its consultancy services to some of leading corporate houses in the country.

 

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