"With India losing its tag as the world's fastest-growing major economy after GDP growth slowed to a five-year low in financial year 2019, the pressure builds on the Modi government 2.0 to reverse the slowdown, and bring back the Indian Industry on the path of sustained growth. The Budget offers the government the opportunity to instil confidence in the industry as well as the investor community, both domestic and global, that in coming years, India will be back on the high growth trajectory with a bang. Also, the government needs to focus on getting the ""Make in India" initiative, become a ringing success as that could be an answer to the employment conundrum while at the same time, walking the tight-rope on maintain the fiscal deficit.
Managing the Banking Sector's NPAs along with recapitalization of PSU Banks; resolving the NBFC crisis; removing roadblocks for faster resolution of IBC cases, while at the same time, incentivising banks to buy good quality NBFC assets, kick starting the real-estate sector; and most importantly, resolving the tight liquidity issue in the financial system, are few major concerns that need to be addressed.
However, one needs to be realistic as the government has lesser room for financial manoeuvrability. Giving a boost to the dwindling GDP growth, tackling the agriculture sector crisis apart from fixing the issues plaguing the financial sector are also of crucial importance, which require immediate attention coupled with follow through action.
Let's keep our fingers crossed & see what the Honourable Finance Minister delivers on Budget Day".