Industry Reaction - Budget 2008
Views of Shravan Gupta - Executive Vice-Chairman & Managing Director, Emaar MGF Land Ltd
The Finance Minister clearly spelt out that the focus for Budget 2008 in his own words "Doing more and doing better". The focus, in our view, continues to be on greater good for equitable growth as well as inclusion and Mr Chidambaram has done a fine balancing act with a favorable bias towards the ‘aam aadmi’. The thrust area continues to be addressing concerns of farmers, boost scope for women welfare, health, education and Bharat Nirman. This would, to a large extent, make a definitive beginning in bridging the gap between the growing divide between the rich and the poor.
On the other hand, with strong global inflationary headwinds and a possible global slowdown looming large, the FM has taken the right steps by reducing excise duties and initiated efforts to spur consumer demand. This would effectively raise consumer spending and as a multiplier effect positively boost a host of sectors.
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