What should the govt do: Get Indians to spend more

What should the govt do: Get Indians to spend more

WHAT KEY MEASURES/ REFORMS SHOULD THE GOVERNMENT UNDERTAKE IN THE FORTHCOMING BUDGET TO SPUR CONSUMER DEMAND?RAJIV SABHARWAL, CEO, Tata Capital We have to ensure that the right support is provided so that all sectors of the economy come back. What is important is to ensure that all the jobs that had gone must be brought back, the salary levels should also be restored to pre-pandemic levels, this will bring the sentiment back. If I have to give credit to someone for the speedy economic turnaround it goes to the RBI and the government.NIRANJAN HIRANANDANI Managing Director, Hiranandani Group Aatmanirbhar Bharat initiative would help in reviving domestic consumption and boost demand for goods and services. Real estate is the second-largest employer in the country and contributes almost 8% to the GDP. Reviving the real estate sector would have a cascading effect on almost 125 industries directly and indirectly dependent on it. KESHAB PANDA, CEO, L&T Technology Services From a policy standpoint, an extension of software exports incentive scheme under the Foreign Trade Policy beyond FY21 will benefit the technology services industry, especially for companies that offers R&D Services to its clients. Moreover, a policy related to exemption of direct tax in SEZ for organizations would assist the technology industry towards enhancing capacities in India.KUNAL BAHL, Co-founder, Snapdeal While a lot of work has been done for start-ups, there is still much to learn and emulate from start-up friendly countries like Singapore, South Korea, Australia, Canada & others. The government can support young entrepreneurs by creating sub-sectoral innovation hubs, help forge deeper relationships between academic institutions and start-ups and channelising institutional funding to promising start-ups. Israel’s “Yozma” program is a great template to spur and support innovationSUJEET KUMAR, Co-founder, Udaan It is important that public spending in key sectors, especially those related to infrastructure and new economy continue so as to stimulate demand and maintain the recent growth momentum. The government should continue its push towards a digitally connected and empowered India through Digital India 2.0, as it will be bedrock of India’s next phase of growth.MOTILAL OSWAL, CEO, Motilal Oswal Financial Services So far the fiscal stimulus packages announced are towards the betterment of the rural sector, which unfortunately leaves the severely battered urban sector awry. The government should announce measures to push demand on the urban front as well
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