The budget this year provides a number of measures to promote
inclusive growth, which in my opinion is crucial to sustain
India’s development ambitions. The emphasis on rural
development, both through banking and telephony initiatives, is
very welcome.
I’m particularly thrilled about the allocation announced for
rural telephony as this will surely give a fillip to boosting
connectivity for villages.
The budget also has a number of initiatives to take banking to the
masses. Among them, the move to set up banks in villages of more
than 2000 people, the bill to allow RBI to grant more banking
licenses and additional support to NABARD are particularly
noteworthy.
On the downside, we would have liked to see infrastructure status
being given to rural healthcare initiatives as well, as they play a
key role in promoting inclusive growth.
On the overall industry front, there are a few initiatives such
as treaties to avoid double taxation and reduction in corporate
surcharge which will help in promoting growth.
The writer is President and Country Manager, Cisco -
India and Saarc.