In a roundtable discussion with CNBC-TV18’s Shereen Bhan, consulting firm BMR’s chairman Mukesh Butani, Phillips India MD Krishna Kumar, Shriram Capital chairman Arun Duggal and Jindal Steel and Power CMD Ravi Uppal discussed their expectations from finance minister Arun Jaitley’s Union Budget that will be presented in Parliament this week.
Butani said the government needs to look for ways to mobilize more revenue. This could be done by undertaking more divestment, selling stakes in public sector banks as well as by trying to widen the tax base.
Kumar was of the view that the government should lay out a stable tax policy roadmap for the next few years as well as bring down the cost of capital by containing the fiscal deficit.
Duggal said the FM should look to form a banking board, which could operate public sector banks independently and without pressure.
While Uppal was of the view that a lot needed to be done to boost the country’s core sectors such as mining, steel, power etc.
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