APN News

Pre-Budget quote by Venkatraman Venkateswaran, Group President & CFO, Federal Bank

“In my view, the priority would be to ensure stability & growth in the system. Till recent past we had seen investment from government in capex as the major driver, but now private capex seems picking up but there is still a lot of potential. We need to spur investment of both govt & private sector to keep the economy on growth trajectory for a sustained period. Directionally, government can extend PLI scheme to more sectors. I also expect/hope to see an alignment on capital gains tax rates to ensure investments are chosen based on the merits of investment rather than tax advantages of asset classes. And introduction of new incentives to encourage domestic production targeting MSMEs would help us move towards becoming Atmanirbhar. This would promote domestic economy, employment and help us avoid importing of low value-add products. “

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