'Trust agenda reinstated in Budget, to push growth'

NEW DELHI: Most of the tax proposals in the Budget are based on the precepts of good governance, which is evident in areas, such as ease of doing business, ease of compliance, technology and trust, a top official said on Monday.

Finance and revenue secretary Tuhin Kanta Pandey told a gathering of business leaders that Budget reinstates the agenda of trust, which would provide the impetus to sustain the growth momentum, amid global headwinds.

Pandey said while much has been done to accelerate the pace of reforms, much more is needed in terms of addressing unfinished reforms agenda. He encouraged industry to inculcate the animal spirits and boost investments to propel growth and employment. He assured India Inc that govt is ready to lend its assistance in whichever way possible to resolve concerns of the industry.

Ajay Seth, secretary, department of economic affairs, sought assistance from industry for implementation of five big ideas proposed in the Budget. He sought industry's views on what should be the modalities for taking forward the manufacturing mission "Make in India". He also urged industry to provide inputs on how public-private partnership could be done differently to get it right this time

Arunish Chawla, secretary, Dipam said one of the objectives of his department to optimise value of a public sector enterprise not just for govt but also for other stakeholders, such as minority shareholders and the public. He said a calibrated approach and well thought out strategy would be crucial before contemplating disinvestment as trade-offs are involved in terms of getting sustained revenue, appropriate market conditions and appetite of investors.