BudgetSpeak #5: Sandeep Sharma: Time to translate intent into action from the Budget

27 Jun,2014

By Sandeep Sharma

 

After the new government has taken charge there is a huge expectation on the economic development of the country. The government has also made the right noises on various subjects signalling an intent to progress and accelerate the economy. I would expect a clear policy direction and a roadmap being spelt out clearly on the macro front viz managing inflation, getting infrastructure back on track,  power reforms, railway reforms and agriculture reforms. The government has clearly said that it is for increasing FDI in various sectors to accelerate reforms and hence a timeline to this would help.

 

While there is a long-term plan spelt out, it is important to catch the low hanging fruit and clear pending decisions in the pipeline which can get things moving. The government needs to show that it can bite the bullet and take some tough decisions ( the recent railways fare hike is one such), diesel deregulation, food bill, their stand on various subsidises and most importantly tax reforms. A single window  clearance is a step in the right direction and it will be interesting to see how they balance environment  clearances and industry development.

 

I expect the current Budget to state an intent and roadmap  on the issues above and then by next budget in February  put the plan into action. Clear policy-making, fast approvals, accountability and creating an environment of positivity and  economic friendliness is the expectation. This  Budget is the starting point to translate intent into action and thereby come true to people’s  expectations. Personally I am bullish and anticipate a decade of positive growth for the country.

 

Sandeep Sharma is President, R K Swamy Media Group

 

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