Road map for growth

The Union Budget 2016-17, the third to be presented by Finance Minister Arun Jaitley, "lays down the road map for a strong and vibrant economy despite the gloomy global economic scenario. The success of the new government will be tested by the outcomes rather than the outlays proposed… The key to this would be the ability of the government to put its act together and deliver on promises made by ensuring that the infrastructure projects come on stream, especially in respect of power, ports, highways, water management, etc,” explained senior tax consultant Homi P. Ranina (pictured).

He was analyzing the Union Budget at a joint meeting of the Rotary Club of Bombay Mid Town and the Rotary Club of Bombay Hills South on March 2, 2016 at the Ballroom of the Taj Mahal Palace and Tower in Bombay, mentions district chairman Godrej N. Dotivala in a write-up sent to Parsiana.
Ranina concluded his detailed analysis on an optimistic note. "Fiscal consolidation is the only path available for restoring the credibility of the Indian economy. Foreign institutional investors and market analysts have taken a favorable view for ensuring macro stability. If rural demand picks up… and (with) a favorable monsoon this season, India would be on the growth path and an eight percent increase in GDP (gross domestic product) is inevitable. This will lay the foundation for a strong and vibrant economy.”