It is the eve of the Budget and the wish list continues to get longer and longer. In an interview to CNBC-TV18, Sanjay Nayar, CEO & Country Head – India, KKR India shares his expectations from Finance Minister Arun Jaitley tomorrow.
Edited excerpts:On GrowthHere’s a fantastic opportunity given what the Economic Survey said, given what we know of the reprieve we have because of commodity and oil is a great opportunity to make out a very clear vision statement, and that they should really follow up with execution.
What we have lacked till today is the credibility even in simple things like numbers and executing on the programmes. So just watching the Railway Budget, if it’s realistic doesn’t need to have any big bang reforms, but lays out a very clear vision statement.On FDIReal projects that are predictable led by Indian businesses, foreign money will come behind pretty easily. There is ample liquidity in the world. There is a great search for yield and I don’t think we have to overpay for that.
We just got to get the policies right here and a very predictable way of doing business and a set of predictable returns. I didn’t say high returns, just returns. If the Indian business man will invest and if he runs short of capital foreign money will come and back him very easily.
On PE InvestmentI’m in the camp that there is no immediate pickup right now. Ultimately, there is a lot of demand in this country for everything but, frankly I don’t see the private sector adding any new capacity or creating real assets.
I don’t think it’s because of lack of capital or high interest rates but about the convenience of doing business, even for the Indian business man. I think that is one thing that this government can do very easily. But I don’t expect the Budget to address all of that.
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