Union Budget 2019-20 will be presented by Finance Minister Nirmala Sitharaman on 5 July. The industry is looking forward to a slew of reforms from an import duty cut on gold items, lowering of Aviation Turbine Fuel prices to allocation to education. Industry heads weigh in with their wish list:
Anirudha Taparia, Executive Director, IIFL Wealth Management
The Finance Minister should focus on reforms, rather than any short-term stimulus. While maintaining fiscal discipline, the overall objective remains to achieve inclusive growth. The government will have to pay attention to the skill development of the youth and employment generation. The budget should ideally encourage private investments across sectors so that companies and industries can enter a growth trajectory. Governance and accountability need to improve in public sector units and steps must be taken to attract the right talent for the long term viability of these institutions. The finance minister could look at increasing the capacity of Insolvency and Bankruptcy courts to speed up resolutions and reduce the current backlog.