The budget has put growth back on the agenda, Sanjiv Goenka, chairman of the RP-Sanjiv Goenka Group, said on Thursday.
He pointed to several measures aimed at boosting growth. The investment allowance plan “was totally unexpected” and would stimulate growth. “It makes return on investment so much attractive.”
The proposals in respect of foreign portfolio investors would bring clarity to the matter and help simplify things and remove doubts. This would boost foreign investment, he said.
The Calcutta Electric Supply Corporation being the flagship company of his group, Mr. Goenka was happy about the public-private partnership mode announced for boosting coal output. This would ease fuel supply problems. He also welcomed the clarification in respect of steam and bituminous coal used in power stations, saying this would remove the scope for misclassification and confusion.
To boost infrastructure, the budget proposed many steps shorn of frills or populism, he said.