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BW Businessworld

Industry Says ‘Yeh Dil Mange More’

In a survey commissioned by BW Businessworld, we reached out to 400 industry leaders across 12 cities, and the results were nothing less than surprising.

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The Union Budget has been described as a 10-year-period vision document by the finance minister, but the industry, it seems, wants more.

In a survey commissioned by BW Businessworld, we reached out to 400 industry leaders across 12 cities, and the results were nothing less than surprising.

For instance as many as 48 per cent of the respondents don’t quite agree that the Budget has a roadmap for making India a $5-trillion economy by 2024. While 20 per cent do feel that the Budget has a roadmap, 32 per cent cannot quite say whether the Budget will usher the $5-trillion economic powerhouse that India aspires to be.

As expected, 48 per cent of the respondents feel that the Modi government carries out its welfare state role without undertaking any real reforms.

The government, of course, would argue that it’s the people which vote for it, and not just India Inc!

As large as 70 per cent of the respondents feel that the Budget lacks a clear roadmap to create jobs.

On private investments, India Inc seems to be positive, with 48 per cent saying that the measures announced will spur private investment.

On the banking sector reforms, India Inc is disappointed, with 72 per cent of the view that the Budget doesn’t address the structural reforms required for the banking sector.

A section as big as 70 per cent of the respondents feels that the Budget is protectionist.

Again, 70 per cent feel that the interests of the middle class haven’t been upheld.

Anand Mahindra recently said that the FM was expected to hit boundaries but she chose to take singles. Fifty per cent of the respondents agree with this.

But then, like all industry surveys, this is to be taken with a pinch of salt. Won’t the government argue that it’s the people and not just the industry that has voted it back to power!

The fieldwork, data compilation and analysis were done by Havish Madhvapathy, founder, Havish M. Consulting.


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Union budget 2019-20
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