Monday, February 8, 2010

V. Venkateswara Rao, CFO, SSVG Engg Projects Ltd

From: rao v v <venkateswara_v@yahoo.com>
Date: Sun, Feb 7, 2010 at 11:16 PM
Subject: My Dream Budget 2010
To: BudgetTwentyTen@gmail.com


Let the Budget spur investments,exports & growth
-------------------------------------------------------------------------------
 
                                                                     - V.Venkateswara Rao
                                                                       Chief Financial Officer
                                                                       SSVG Engg Projects Ltd.
 
The guiding principles for the forthcoming Union Budget should be : 1) to incentivise private sector investments, 2) to spur the growth of exports & to broadbase the exports,3) to maintain the fiscal prudence, 4) to initiate large scale reforms in the agricultural sector in order to improve its productivity and 5) not to do anything that may adversely affect the already strong domestic consumption.
 
During the last year, India was able to buck the global recession, aided by its strong domestic consumption. Hence Government should not adventure to withdraw any fiscal stimulus measures (like roll back of Excise Duty from the present 8% to pre-recession rates of 16% etc)  that will directly affect the domestic consuption.
 
All major private investments have been kept on the back burner during the last year and incentivising investments is necessary to push the GDP growth rate to double digits. This is possible only through liberalising FDI in various sectors, facilitating more bank credit to private sector and introducing more tax incentives for investments.
 
Fiscal prudence needs to be maintained, without affecting growth, through measures like gradual withdrawal of unproductive subsidies in the oil sector,tight control on government's non plan expenditure, reduction in interest burden on government borrowings etc.
 
Export sector creates large scale employment and hence budget should focus to broadbase India's exports to more countries & export of more products through measures like liberal export credit, maintaining Rupee's exchange rate competitiveness etc.


Get your preferred Email name!
Now you can @ymail.com and @rocketmail.com.

No comments:

Post a Comment