We anticipate notable initiatives from the esteemed Finance Minister, particularly given India’s current status as a key driver of global growth. Our expectation for this budget is a specific push to the manufacturing sector. We would highly value an extension of the PLI scheme, extending beyond the existing 14 sectors designated by the government.
The scheme should be extended to sectors such as the garment, jewellery, and handicraft industry. These sectors are particularly labor-intensive, with a significant workforce employed. The extension can have a direct and positive impact on employment generation. Another expectation would be a specific focus on the tourism sector. Recognising the potential of tourism to drive employment will also be highly appreciated.
Besides, we also expect the government to focus on multi modal transport system because of India’s largest network of roads, and FDIs (Foreign direct investment). Investment is coming to India, but the flow has to be sustained, and therefore, we believe that the state governments should also be equally responsive to it.
And last, but not the least, India's transition towards green energy as we need cheaper rates for green financing to become globally competitive. And also the housing sector, which can boost the economy with a lot of employment generation.
If government focuses on these areas then I think it will be very good for India.