DECODING BUDGET FINEPRINT

As Indian economy recovers from the 'once in a century' pandemic, Union Finance Minister Nirmala Sitharaman’s fourth Union Budget has tried to push growth through ₹7.5 lakh crore capital expenditure, 35% higher than Budget 2021.

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A string of digital initiatives such as land records, digital currency and e-passport also kick off to keep India future-ready. Fortune India spoke to some of India's top economists, industrialists, bankers and CEOs to decipher Budget 2022. Gopal Krishna Agarwal, national spokesperson, BJP; Subhash Chandra Garg, finance secretary from July 2017 to July 2019; Gourav Vallabh, spokesperson, Indian National Congress; Suneeta Reddy, managing director, Apollo Hospitals; R.S. Sodhi, managing director, Gujarat Cooperative Milk Marketing Federation; Amitabh Chaudhary, MD & CEO, Axis Bank; Mahesh Palashikar, president, GE South Asia; and Raamdeo Agrawal, chairman and co-founder, Motilal Oswal Financial Services answer some of the most searching questions regarding government of India's annual financial statement. Edited excerpts:

Is The Union Budget Growth Oriented?

Suneeta Reddy: The focus on capital expenditure, especially infrastructure, transportation and logistics, will have a multiplier effect on jobs and growth. The government has acknowledged its role in catalysing the virtuous cycle of investment. It is likely that private investment will follow. Another factor that will drive growth is manufacturing. Government has attracted a lot of interest with Production Linked Incentive (PLI) scheme, and our focus must be on becoming a meaningful part of the global supply chain, which is opening up under the China +1 model.