Budget Is Optimistic And Pragmatic: Shri M.S. Raghavan
Nutan Gupta / 10 Jul 2014
Shri M.S. Raghavan, CMD, IDBI Bank shares his views on the maiden budget presented by Finance Minister Arun Jaitely.
“The first budget from the new government is optimistic and pragmatic and addresses the two challenges facing the country, viz., controlling inflation and providing a boost to manufacturing. It has provided a broad framework for reforms in the most-needed segments of the economy. The FM has given a thrust to the industrial sector by taking various steps like liberalization of ADR and GDR rules, single KYC requirement in capital sector, investment allowance for capital investment in plant & machinery, etc. Revival of capital markets will give a fresh lease of life to many business enterprises across the country and kick-start the industrial sector. The FM’s measures to expand banking facilities to empower weaker sections are a move to encourage inclusive growth in the country. The proposal to permit public sector banks to sell shares to retail investors, in order to raise funds is welcome. This, along with its measures for revival of stressed assets is certainly a step forward, which will assist the banking sector with improved balance sheets and boost investor participation.
IDBI Bank has traditionally been one of the pioneering lenders in the infrastructure sector. The FM’s initiative to encourage banks in extending long term loans to infrastructure sector on one side and raise long term funds for lending to infrastructure sector with minimum regulatory pre-emption, will give a boost to IDBI Bank’s business and also help in broad basing of infrastructure financing. Apart from direct financing, the proposed modified REITS structure and all such measures rolled out to Infra and manufacturing sectors will bring down the stress and revitalize the sectors, thereby greatly benefiting IDBI, a predominant player in this space.“If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.