Budget 2016 progressive, time appropriate: D R Dogra

D R Dogra, MD & CEO - CARE RatingsThe much awaited Union Budget for 2016-17 can be treated as being progressive and time appropriate having announced a raft of measures, policies and reforms catering to nearly all the sections of the economy. The budget aims at bringing about structural changes that can help transform the country’s economy. The focus on the rural & social sector and on skill development will help us rightly tap our demographic dividend. On expected lines the government has continued with a focus on developing infrastructure. The higher public spending along with the reforms would help stimulate private investments. It is commendable that the government has been able to rise up to the challenge and adhere to the fiscal consolidation roadmap that it had outlined. Although the measure and policies are to raise growth, the focus here has been more on sustainable long term growth which need not necessarily see any significant increases in the immediate future. The measures announced to strengthen and deepen the corporate bond markets are hugely welcome and will go a long way in facilitating infrastructure financing. It is hence quite encompassing. We have analysed here the implications of the measures announced today at both the macro and micro levels to provide a complete picture of what the Budget means to us.

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