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A snapshot of what the key sectors of the economy want from the Finance Minister
The banking sector has been grappling with a host of challenges in recent years. The year 2017 was no different. Sluggish loan growth, rising bad loans and weak earnings continue to plague the sector. However, there has been one silver lining — the Insolvency and Bankruptcy Code (IBC) — that has set the ball rolling for efficient and quicker resolution of stressed assets. Read more
Budget allocation has been increasing over the years for the power sector. This Budget is expected to increase the allocation towards schemes such as Deen Dayal Upadhyaya Gram Jyoti Yojana (electrification of villages) and Saubhagya Scheme (rural household electrification). Power-generating companies like NTPC, Tata Power and Adani Power stand to benefit through the increased demand, as these schemes expand the reach of electrification in the country. Read more
The agriculture sector is likely to get top priority in the Budget. Slowing agri-GDP growth has shaken the roots of the rural economy. For the full year 2017-18, CSO estimates agri-GDP growth at 2.1 per cent, which is less than half of 4.9 per cent registered for 2016-17. The annual increase in farm income needs to be around 10 per cent between 2015-16 and 2022-23 for the Prime Minister’s dream of doubling farmers’ income to come true. But, at the current pace, it looks a challenging task. Read more
The auto sector witnessed multiple challenges last year from the after-effects of demonetisation in late 2016, the changeover to BS IV emission norms from April 2017 and the implementation of GST from July 2017. Sales volumes have however bounced back from these hiccups, with the industry recording an overall volume growth of 11.28 per cent in the April-December 2017 period. Favourable budget moves will keep the momentum going in all major segments. Read more
The oil and gas sector will be hoping for the Budget to rationalise cess on crude oil, cut import duty on liquefied natural gas (LNG) further, reduce excise duty on compressed natural gas (CNG) and provide incentives for domestic production. Read more
To revive its fortunes quickly, the real-estate sector is looking beyond the usual sops — for a magic bullet. The sector’s nearly decade-long request has been to get infrastructure status, which will enable it get lower cost of funds. This will benefit smaller players such as Ashiana Housing and Puravankara. Read more
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