Ahead of the announcement of the first full-fledged Budget by the Narendra Modi led Government, SpiceJet co-founder Ajay Singh says that a pro-growth Budget is needed in which public expenditure should increase. He also wanted black money to be curbed through lowering of taxation and simplification of taxes.
"This Budget should be a pro-growth. It should lay main focus on public expenditure and infrastructure. The whole taxation structure should be simplified so that the generation of black money can be minimized," Singh said at a one-day conference, 'Budget AajTak' Business Roundtable on Monday.
Singh believes the fact that top Ministers of this Government are incorruptible which signifies that the ease of doing business in India has improved and India has emerged as a better business destination in the past a few months.
Also speaking on the occasion, Oxus research and investments Chairman and Managing Director, Surjit S. Bhalla said that an increase in the Defence Budget, even if very little, is required.
Bhalla also felt that Modi Government has taken decisions to make the country a friendly place for doing business; one of them was to increase the number of employees from 10 to 40 under the labour Act and putting many processes online.
Royal Bank of Scotland former CEO and Chairperson, Meera Sanyal also presented her views. One of the issues she wanted the Government to address through this Budget, was the One Rank, One Pension demand of the armed force personnel. She also wanted the Government to have a scheme in which, defence personnel are rehabilitated properly after their retirement.