India Inc counts on the Budget announcements; optimistic about growth in FY22: Deloitte survey

New Delhi, Jan. Jan 22 : India Inc. is optimistic about the Union Budget FY21-22 as it is expected to give a strong push to the economy, business and industry.
According to a recent survey conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), a majority (68 per cent) of the 180 industry leaders are positive about India’s economic revival.
The survey noted that Respondents believe that the mass vaccination drive, the government’s stimulus packages and other policy changes, focused attention to infrastructure, and continuing efforts on digitisation are some key areas helping India revive and thrive.
About 60 per cent of the survey respondents feel Atmanirbhar Bharat, the government’s flagship programme aimed at attaining “self-reliance”, is well received. Respondents also expressed that extending R&D incentives, increasing FDI limit in different sectors and further simplifying its processes, along with supply chain reforms, would further enhance the programme’s effectiveness.
Respondents felt that increasing the credit support to MSMEs would help the industry rebound sooner.
Respondents felt that focusing on the infrastructure sector with timely and adequate financing, as outlined under the National Infrastructure Pipeline (NIP), should be a priority area in this budget.