Budget 2016 has provided strong growth direction to the Indian economy, says Rana Kapoor, MD&CEO, YES BANK

The segmented 9-Pillar Approach with well carved out deliverables will ensure execution clarity and focus.

Written by: India.com Business Desk

Published: February 29, 2016, 5:48 PM IST

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Feb 29: Rana Kapoor, and MD&CEO, YES BANK and Chairman, YES Institute shares his views on the Union Budget 2016 announced earlier today.

“FY17 Budget has provided a strong growth direction to the Indian economy. The Finance Minister has managed to balance the need to prioritize social sector requirements with economic and business imperatives. (Also Read- Union Budget 2016: Centre to provide Rs 1 lakh per family health cover)

The segmented 9-Pillar Approach with well carved out deliverables will ensure execution clarity and focus. By adhering to fiscal deficit aim of 3.5% the Budget creates room for complimentary monetary policy rate cut of 50 bps in the near term and 75-100 bps in 2016, conditioned on favorably evolving macros. Key measure to increase the allocation to infrastructure with an impressive outlay of INR 2.2 lakh crore will help to re-energize the growth multiplier, while the specific measures to improve ease of doing business and favorable tax treatment for start-ups and MSMEs will go a long way in boosting job creation.”