The Finance Minister, in his Budget speech, should provide a clear roadmap of its economic plans for the next couple of years. The Budget should provide insights into to the government policies in quite a few areas where clarity is still missing. The approach towards fiscal prudence including the policy regarding the withdrawal of the stimulus package and the investment plan for the money raised through the divestment of PSUs should be brought out. There is a lot of talk about the implementation of GST. However, the roadmap for the implementation is still not clear. Similarly, the approach on the education sector reforms should be presented.
There is no industry specific wish list as such. The growth of the capital markets depends on the growth and stability of the economy. The market regulators have brought in a lot of transparency in the markets. The reforms that have been introduced over a period of time have helped in the growth of the capital markets as well as the financial services industry. The current tax structure is also appropriate.
We realize that the Budget is not the only platform for announcing policies. However, the broad agenda and a clear roadmap for the economic policies should be presented in the Budget while the details and implementation plan can be announced subsequently.
(The writer, Gajendra Nagpal, is the founder & CEO of Unicon Financial Intermediaries. )
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