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Increased outlay for infrastructure improvement would accelerate the country’s economic development, Rundrasen Sarma, Professor of Economics, IIM Kozhikode, has said.
Speaking at a budget analysis session organised by FICCI, Kerala State Council, he said the budget has given the clear direction not only in which the economy is going to be steered but also the key milestones that need to be crossed on the way. The budget, which was presented in the backdrop of an improving macro-economic situation, has also set clear national targets being set for the year 2022.
The additional ₹70,000 crore to be spent on infrastructure sector will provide huge impetus to the overall growth and economic development in all sectors, boosting investments. The Economic Survey has given a clear indication about the current state of the economy and the future course of action, he observed.
The FICCI budget analysis session was organised jointly by Ernst & Young LLP and supported by the Indian Chamber of Commerce and Industry, Kerala Merchants Chamber, TiE Kerala and Geojit BNP Paribas.
Vijayakumar, an investment strategist at Geojit BNP Paribas, pointed that though it was not a big bang budget, it has laid down the roadmap for taking India into accelerated growth.
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