As the countdown for the Union Budget 2020-21 has begun, REHAU South Asia chairman Ajay Khurana expects that it to infuse hopes and cheer in the industry with a growth-oriented approach reinforced in it. “We look forward to financing minister to provide the industry with a conducive environment encompassing incentives in terms of ease of doing business and renewed encouragement for better business opportunities,” he says.
Budget 2020, Khurana adds, assumes greater significance in the wake of collapsing GDP growth which the second-quarter data has already revealed. To revive growth in the economy the government must focus on the revival of consumption cycle in the upcoming budget.
An urgent dose of consumption booster is the need of the hour, thus the upcoming budget must come up with offering more rebates to the individual taxpayers to provide more disposable income in their hands. An increase in disposable income may immediately result in consumer expenditures to benefit the entire industry.
“Currently, the economy is moving at a snail pace and for it to pick up the desired growth rate; the upcoming budget requires to include a series of positive announcements aimed at benefitting all the stakeholders in the long run, if not immediately.
Further, we expect this budget to come out with some revolutionary provisions infusing optimism in the industry to improve the prevailing market sentiments. We equally require innovative policy interventions in this budget to foster both exports as well as demand in the domestic market to reinvigorate growth.”
In a nutshell, he stresses, “This budget must assuredly improve the consumption and demand cycle simultaneously with introducing industry-friendly policies. We are also looking forward to some reform-oriented provisions in this budget especially in terms of introducing incentives to boost the manufacturing sector if we really want to become a five trillion dollar economy in the long run.
Being one of the leading global players in uPVC windows & doors, furniture and building industry we hope the upcoming budget should reenergize demand and pave the way to accelerated business growth.”