IGI Logo

Below the Quote on Pre-Budget Expectation by Rajesh Narain Gupta, Founder & Chairman, SNG & Partners

Banking requires dynamic and timely reforms for country like India. FDI in banking should be increased to invite more capital; government participation in public sector banks should be reduced asap; incentives to individuals on tax applied on fixed deposits should be given to increase liability business and to create level playing field with the stock market and create balance; Big incentives should be given to private sector especially SME on Capital Expenses for capacity building and increase employment and also to reduce dependance on government spending; focused reform and incentives be given on long term lending by Banks on identified infrastructure projects; tax concessions should be given to private sector availing Green Finance to set up greenfield and brownfield Green Projects.
Protections should be given to decision makers in banking sector where loans go bad or leads to fraud where decision is taken in normal course and committee-based approach. Fear of penalty and prosecution need to be balanced for the banking industry to apply themselves.

Above views are of the author and not of the website kindly read disclaimer