Budget 2015-16: Lift cap of 49% FDI in Indian security industry: Topsgrup

Ramesh IyerTopsgrup Union Budget 2015-16 is due for February 28 and the expectations are building up, being it the first of the series by Shri. Narendra Modi Government.  I strongly believe the Finance Minister Shri. Arun Jaitley will come up with critical announcements which supports the current government’s development and reform agendas.  I am sure there will be policy reforms and relaxations that will assure stability for promotion of foreign direct investments (FDI) in India and support the new government’s ‘Make in India’ campaign.  We specifically seek from the honourable finance minister to lift the current cap of 49% FDI shareholding in the Indian security Industry thus allowing investments in the sector, improve working conditions of the 7 m workforce & achieve 100 % statutory compliance.An investment-friendly atmosphere along with transparency and predictability in tax policies would further fuel a sustainable growth trajectory for India. With IMG lowering the global growth rate for 2015 to 3.5 in its recent Wold Economic Outlook Update and the European Union, India’s largest trade partner, slipped into recession, the new government will be hard pressed to go all out to make sure that our country grows over 6 percentage. With the inflation and the current account deficits falling to the comfortable zones, I believe this is an achievable figure.  Skill development, creating more employment opportunities for youth, improving basic amenities and higher emphasis on capital expenditure on infrastructure should be the key focus.  Furthermore, the finance minister’s indication not to burden the middle class with additional tax is welcoming.Ramesh Iyer is the Vice Chairman & CEO of Topsgrup.