: S. Narayan, former Economic Adviser to the Prime Minister of India, said the fund allocation in the union budget seemed to be inadequate for the implementation of the announced programmes. He was addressing a post-budget analysis organised here by the Cochin Chamber of Commerce and Industry, in association with Institute of Cost Accountants of India (ICAI) and Institute of Company Secretaries of India Kochi Chapter (ICSI).
He said the mismatch could affect the performance and delivery of the budget promises, including the proposed ‘Make in India’ campaign.
The government must focus on the revenues and they need to work towards a balance in the tax-GDP ratio. Referring to the issue of black money, he said that deterrent punishment would be essential to curb the evil.
He said that the budget presented by the finance minister had adopted a new approach.
The budget had spelt out a good design for projects related to infrastructure, agriculture and social welfare. The success of the budget would depend on its effective implementation, he said.
S. Narayan said the mismatch could affect the performance and delivery of the budget promises, including the proposed ‘Make in India’ campaign.
