If I were FM | Kishore Biyani, group CEO, Future Group
If I were FM | Kishore Biyani, group CEO, Future Group
If you were FM what would you focus on this budget?
In the past couple of months the good news has clearly come from rural India. Government measures such as the loan waiver, the strengthening of the NREGS (National Rural Employment Guarantee Scheme), the increase in minimum support price (MSP) and higher salaries for government employees have put more money in the hands of the rural consumer. Now, when they spend it on television sets or cars or refrigerators, it helps create, or at least protect jobs in industries across India.
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How would you incentivize higher consumption?
Our existing tax structure incentivizes savings rather than consumption. Other measures such as employment schemes, urban development initiatives, monetary policy and every economic policy need to converge on a single objective.
Now is the time when we need to not just drive innovation and creativity in public policymaking, but also bring about game changing ideas that can transform India from an “emerging nation" to an “emerged nation".
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