This year's Union Budget has focused on stimulating growth, promoting investments and facilitating ease of doing business. My consistent view has been that stability and predictability of Government policies are the two pillars that make a necessary condition to attract capital investments. This Budget reflects my view and will continue the growth momentum that has been created by the new government. Key takeaway from the budget is its focus on infrastructure, public investments and social security measures. Increased outlays on infrastructure development would be a key growth enabler for other inter-dependent sectors. The higher public investments will be a catalyst for higher private investments too. The Economic Survey brought out that except for the mining sector, all other major industrial sectors have experienced slowdown in the growth of credit in 2014-15 against 2013-14. To keep up the momentum, the extractive industry had expectations for impetus that would have led to a stronger Indian resources sector. The successful conclusion of coal block auctions contributed significantly to states, thereby re-establishing the importance of resources sector.

The writer is CEO, Vedanta Resources

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