Sanjiv Goenka, Vice Chairman, CESC

Overall the budget has been positive under the circumstances, it could have been very different but I think it’s a very bold, very balanced very forward looking vision statement by the finance minister and I am quite enthused by it. As far as power is concerned, I think he does talk of an increased capitalisation of India Infrastructure Finance Company Ltd (IIFCL) to 1,00,000 crore and I would expect part of that to come into the power sector. He has said that by the year 2014 he expects to spend 9% of the total Gross Domestic Product (GDP) on infrastructure of which power would be a major component, so I personally would imagine that it would bode well for the sector. I think it’s a major policy statement from the finance minister and we have a lot more to look forward to.

I was going out and investing and I will continue to invest probably no more aggressively or no less aggressively than before but investment will happen. This sector affords huge opportunity, there is not that much to be expected from the government by way of announcement in the budget. What we are expecting from the government as we go forward is fuel linkages to come in quicker, to come in more transparently, to come more efficiently and I do believe that the government is working on that though the budget may not be the right place to announce those policy measures.