Mr.Sudip Bandyopadhyay, Group President, Spice Finance

The Budget and the road ahead – By Mr.Sudip Bandyopadhyay, Group President, Spice Finance

The expectation from the Union Budget for the current year is significant considering the fact that the government is now firmly in saddle for close to a year now and has 4 more years before the next general elections.

The Finance Ministry and the government, in general, got adequate time to ponder over the economic and structural issues. Infact, the recently revealed GDP numbers indicate that economic growth is back on track. Post the crisis that hit world economies, India finds itself in a comfortable position to move ahead at a rapid pace by getting rid of the residual structural bottle-necks.
There are now several expectations from the upcoming budget. One of them being, a calibrated and well thought out measure for controlling inflation without affecting growth and a roadmap for withdrawal of the stimulus package spread over the next 12-18 months. Also, introduction of effective short term and long term measures to facilitate significant additional infrastructural investment by both domestic and foreign investors is the need of the hour.

One would also expect the government to come up with new schemes for mobilization of domestic savings through appropriate PSUs for deployment in infrastructure. There need to be concrete steps in place for taking agricultural growth to its next level, thereby providing necessary impetus for a double-digit GDP growth. A roadmap for completing the structural reform process in the financial services sector through enactment/ amendment of pension and insurance regulations will also be expected in the next budget.
A plan for carrying out necessary reforms in the labour laws, Commodity Market regulations (FCRA) etc. as well as a clear sketch for introduction of Goods and Service Tax (GST) will be expected.

Profile – Mr.Sudip Bandyopadhyay, Group President, Spice Finance.

Sudip Bandyopadhyay is a Group President, Spice Finance (Spice Group company), He is also on the board of Spice Finance as a Director. Before joining Spice Group he was earlier CEO & MD of Anil Dhirubhai Ambani Group’s Reliance Money for over four and half years.

Mr. Bandyopadhyay has over 20 years of industry experience in the sector and has worked with companies like ITC, ICI and HLL.