29 Jan 2020 18:34 IST

Budget 2020 should focus on revamping infrastructure

Additionally, a renewed focus on initiatives such as Skill India will help build strong employable workforce

“For a developing country, infrastructure is the backbone of our economic growth. We need a comprehensive push across sectors such as transportation, health and education. And this growth has to be in line with sustainability. Today, with climate change staring us in the face, India cannot afford to create infrastructure which is at odds with the environment. We also need to invest in infrastructure in tier 2 and 3 cities rather than overburdening only a handful of large cities across India.”

Dikshu Kukreja, Infrastructure specialist and town planner.

Given the current market scenario, there is an urgent need for policies and initiatives that can bring liquidity to the market and to the masses. This can help businesses to create better job opportunities and eventually, help leverage the talent pool. Additionally, empowering the youth with education and relevant skillset for employability is equally important. Budget infusion in the HRD will help strengthen the NITI Aayog and the Skill India initiative, which can help create long-term job opportunities for the youth. Balancing these with reasonable taxation slabs for employees and the start-ups and SMEs is also vital as these sectors are instrumental in creating several jobs at the grass-root level.

— Vipul Agarwal, start-up mentor, investor and consultant. He heads Tringo Solutions India Pvt Ltd.

In the current scenario, with the declining GDP growth rate, it is important that the Budget introduces measures that will boost consumption and drive growth. While it is predicted already that the Centre will most likely modify the individual income tax rate for salaried personnel, creating a scenario that would boost ease of doing business for SMEs and start-ups. Liquidity, spending power and opportunities for investment and savings can all be driven through strategic tax reform for the salaried and SME segment. Additionally, a renewed focus on initiatives like Digital India and Skill India, along with efforts in the education segment, will play a major role in building up a strong employable workforce.

— Nikesh Patadia, finance consultant and Director of foreign investments at Business Bug India.