As Finance Minister Arun Jaitley gears up to present the Union Budget 2015, industry experts voice their opinions and expectations. Steffen Berns, Managing Director, Bosch Limited and President, Bosch Group, India is strongly of the opinion that the government should take measures to improve the ease of doing business. He states that a clear roadmap including transparent process oriented way with defined timeframe for clearances will be much appreciated by the auto industry.
The official also believes that implementation of Goods and Service Tax (GST) will help grow Gross Domestic Product (GDP) thereby helping to boost the country's economy.
Berns states, "An inclusive and growth oriented budget would help in the revival of the auto industry. The annual budget would need to stimulate the flow of investments in key sectors which in the long run would also help boost the consumption."
The top official at Bosh is also of the opinion that the government should have a focused approach towards sustainable infrastructure development, specially roads, railways and ports. He states that the government's measures towards restarting of stalled infrastructure projects will help revive the demand particularly of commercial vehicles.
The top official also indicated that tough measures are needed to control India's fiscal deficits. He states that fiscal discipline is required to reduce the fiscal shortfall and improve the economic growth.
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