The Union Budget this time is focusing on small investors and small taxpayers to ensure rapid growth of Indian economy as these areas strengthen the foundation of economic growth of any country. The Chairman of Hindustan Powerprojects, Ratul Puri expressed his contentment on budget outlay in infrastructure and power sector for the fiscal year 2016-17, which is 2,21,246 crore. Ratul Puri appreciated Finance Minister Arun Jaitley’s plan on 100 per cent electrification of villages across the country. According to him, such a plan would lead to increase in demand of power and would further boost investments.
Puri says, “It’s a commendable step taken by the government this budgetary season. India needs to connect the unconnected and this will in turn spur the growth of the nation. More than 5,000 villages have been electrified within 4 years and this proposal of rural electrification has raised the bar of expectations amongst Indians, be it at the receiver’s end or the service providers’, this is a bucket full of expectations and hopes.” He also believes that the concept of rural electrification along with UDAY schemes reviving the DISCOM health, can drive a significant change to the Indian power sector.
Arun Jaitley laid the foundation of Union Budget 2016 on 9 pillars that vary from Agriculture and farmers’ welfare, rural development to social sector which includes healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden. Apart from Power sectors’ expectations, Ratul Puri is glad that the budget has proposed an amendment in Companies Act which encourages start-ups due to easy and speedy registration process. “It will give huge opportunities to young aspirants”, says Puri.