In the Union Budget 2022, what are you expecting for the financial services sector and the economy as a whole?
In the last two years, when there was an impact of Covid, the government has done a fabulous job in terms of supporting the entire economy. Both the government and Reserve Bank of India through their fiscal and monetary policies, have been supporting the economy and are also seeing very good growth. Going forward, the most important part would be that we need to boost the demand which can happen if we continue to support the MSMEs.
So the kind of support which the government has provided during the last two years for MSMEs, needs to be continued for at least one more year. Second, we also need to support some of those sectors, especially the construction and the real estate because construction and real estate not only create more jobs, employment comes both for the urban as well as from the rural sectors,
This is also one area where the government would get very good revenues and so this is one sector along with the MSMEs, if they continue to get the support from the government for at least one more year, would do very well.
Similarly, for individuals, this is a time for the government to put some more money in the hands of individuals by reducing the individual income tax.
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