Dr.Nitin Balwani talks about possible announcements and recommendations for Union Budget 2018
Author(s): City Air NewsAs the Modi government completes its roller coaster ride of four years and is preparing to announce its last financial budget, the expectations are high from each industry. This budget will be the report card of...
As the Modi government completes its roller coaster ride of four years and is preparing to announce its last financial budget, the expectations are high from each industry. This budget will be the report card of all that was promised in 2014. As predicted by many, the budget may focus on being more citizen centric, hence, direct taxes and jobs should be made priority.
Sharing his views, Dr.Nitin Balwani, Dean, Planning and Development, IFIM Business School talks about the possible announcements and recommendations for the Budget 2018. Dr. Nitin’s 15 year experience in managing large teams across financial services space as well as his expertise in Investment Management, Strategic Management, Corporate Finance, International Finance, and Derivatives, will provide an insight into industry expectations and outcomes.
“The budget will have several measures to increase infrastructure spending to grow jobs, along with increasing custom duties and opening up FDI to shift more manufacturing and services to India. As the informal sector has been hurt the most with the crackdown on parallel economy, Budget 2018 will have sops for the small-scale sector and bring low levels of taxes for the ease of compliance.
Another key focus area for this budget is revival of stalled projects such as infrastructure projects as per Centre for Monitoring Indian Economy (CMIE). A mix of promoter exuberance, global slowdowns, policy changes, poor investment decisions and commodity price falls, led to rise in bad loans for the banks, leading to slowdown in investment activities and stalled projects. While a few steps have been taken to sort out the mess, the budget of 2018 will take significant steps to help revive the stalled projects, which will help in reducing bad loans as well as job creation.”