In an interview with Shruti Tomar, CII former chairperson RS Goswami says Budget has a long-term vision for a better future. Excerpts:
What does the Union Budget mean to you?
The government is focused on good governance and wishes to improve infrastructure and farmers’ living condition. The Budget has a long-term vision for a better future. It is really a good budget.
What will be the impact on household budget?
With better agriculture productivity, the skyrocketing prices of food items will be controlled effectively. Similarly, the migration of people will stop and the money of municipal corporations will be spent on providing better services to people.
Does the budget reflect ‘achchhe din’?
Instead of focusing on cosmetic improvements, finance minister Arun Jaitley focused on solid improvements. Good days will come because Indian economy is based on agriculture sector and in the Budget there are many things to improve agrarian crises.
Do you find anything for industries and real estate?
In short term, it has nothing but it will definitely boost up manufacturing sector through improvements in infrastructure. The manufacturing units will not need subsidy, if the transportation cost reduces with better connectivity and good roads. By proposing exemption in service tax on construction of affordable houses up to 60 square metres, the government has fulfilled the dreams of weaker section to purchase a house and will also reduce the slums.
How Union Budget will help in boosting up economy of MP?
The Union Budget with a long-term vision has made an attempt to resolve several problems like poor infrastructure and poor living condition in rural areas.