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Budget 2023 wishlist: Assocham says govt should keep interest rates, borrowing low to boost capex cycle

economy | Dec 16, 2022 11:16 PM IST

Budget 2023 wishlist: Assocham says govt should keep interest rates, borrowing low to boost capex cycle

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Ahead of the union budget 2023, Assocham president Sumant Sinha told CNBC-TV18 that the government should keep interest rate and borrowing low to boost the capex cycle. Meanwhile, JK Paper's managing director Harshpati Singhania said he expects the budget to be growth focused.

Ahead of the Union Budget 2023, Assocham president Sumant Sinha told CNBC-TV18 that the government should keep interest rates and borrowing low to boost the capex cycle. Meanwhile, JK Paper's managing director Harshpati Singhania said he expects the budget to be growth-focused.

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Sinha said keeping interest rates low and keeping government borrowing low is an important aspect of making sure that the capex cycle has legs. So, I think that would be my wishlist as far as capex cycle is concerned.
"I think the government has been pretty good in coming out with PLI for a number of sectors. But in certain areas, for example, in solar manufacturing there is a lot more demand than the PLIs are actually able to fulfill. So, the government should consider increasing the PLIs in certain sectors because India has the opportunity to actually emerge as an alternate supplier to China," Sinha added.
Singhania said he expects this budget to be growth-focused. There will be continued thrust on the infrastructure development, both physical infrastructure as well as in the service area.
"For example, India has taken great strides in the digital space. I think the budget will continue to focus on this as well as the social sectors like health and education, which are the fundamental building blocks of any economy," Singhania added.
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