Dilip Modi, President, ASSOCHAM and Managing Director, Spice Communications

“The guiding principle has to be sustainable growth with fiscal consolidation and good governance. Budgetary allocations must increase to address infrastructure gaps both in physical and social infrastructure, especially in connectivity and broadband. Incentives for investments in mobile value added services will leverage investments in digital highways. Further, right incentive structure to increase private sector participation in infrastructure will help unleash the entrepreneurial potential of India’s growing pool of talent, and help the economy grow much faster. Government should retain the stimulus to make the infrastructure sector attractive for the private sector participation as well FDI. Flip should be provided to health, education, technology research, rural development and livelihood support programmes. Budget should deliver an enabling environment to facilitate financial inclusion by allowing multiple business models including microfinance, more banking correspondents, mobile banking and other capitalized institutions to reach unbanked sector in remote areas. It is equally important to reduce subsidies and direct more funds by way of capital expenditure rather than consumption expenditure. Budget should also pave the way for increased manufacturing competitiveness with focus on SMEs.”