Ahead of the Union Interim Budget presentation, Ramachandran Dinesh, President of the Confederation of Indian Industry, stressed the importance of maintaining a focus on capital expenditure (CapEx) and continuing the successful infrastructure development from the past.
Dinesh advocated for continuity, recommending a 20% increase in CapEx spending, proposing Rs 12 lakh crore for infrastructure projects. He also expressed the need for clarity on the government’s future focus for equitable growth.
Rahul Garg, Chairman of the National Council on Direct Taxes at ASSOCHAM and Partner at Price Waterhouse & Co. LLP, underscored the significance of financial prudential measures to uphold macroeconomic stability in the Indian economy. Garg emphasized the expectation for transparency regarding the country’s financial prudence in managing the economy. He anticipated an announcement indicating the containment of the fiscal deficit at 5.9%, instilling confidence in the ability to further consolidate and possibly aim for a lower fiscal deficit in the next year.
Ajit Mangrulkar, Director General of the IMC Chamber of Commerce and Industry, previously highlighted the continual need for infrastructure investment to ensure robust economic growth and stability.
