The Union Budget 2014-15 has focused on laying the foundation for the future with a thrust on infrastructure and urban development and corporate India feels that it has sent the right signals.
Arun Nanda, Director, Mahindra Group said, “among the beneficiaries of the budget are the real estate sector especially affordable housing. The move on Real Estate Investment Trusts (REITs) and Infrastructure will bring in more money.’’
He felt however, that more innovation was expected on the infrastructure side and on the capitalization of banks. “It is not a bad budget but maintains the status quo situation.’’
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Madhur Bajaj, Vice Chairman, Bajaj Auto said although the new government did not have enough time, “they have given the right signals. The government seems to be following the prime minister’s statement of good economics equals good politics. Secondly, the budget has set the environment for investments to come and there was only minor tinkering although the direction is right. I am happy with what was has been done in limited time.’’
A pragmatic and balanced budget is how Rajesh Laddha, CFO Piramal Group described the budget. “The new government has probably tried to balance the fiscal deficit restrictions vis a vis the push to be provided to the ailing economy. On one side the Finance Minister has tried to contain the fiscal deficit to about 4 per cent level, where as on the other side he has tried to provide boost to initiatives like job creation, infrastructure, higher FDI and domestic investments, industrial development, better healthcare and education etc.’’
Mr. Laddha felt the main focus of the budget seems to be higher growth and job creation through support of PPP programs and more investment through FDI and domestic savings.
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Ninad Karpe, MD & CEO, Aptech welcomed the budget proposals. “I am delighted as this budget is strong on education. It talks about providing Rs 500 crore for teacher training, setting up virtual classrooms and loans for higher education.’’