'Capex should be ramped up by 25% over BE'

The advance growth estimates have shown lower-than-expected growth numbers. How do you think the Budget can spur growth in the economy?

- SANJIV PURI

In the context of what's happening globally and certain transitory factors, 6.4 per cent GDP growth is a good base to start with because we are on a solid foundation. It means that the second half will be 6.7 or 6.8 per cent. We are starting from a good position.

How can the Budget make the most of these opportunities?

Some important areas are reviving and providing a resurgence to certain manufacturing sectors, such as electronics. We should consider targeted interventions for labour-intensive sectors such as garment, footwear, furniture, tourism, and real estate.

The headwinds we face are primarily due to external factors, such as the export sector not performing well. There's a lack of growth, which is exacerbated by climate change, disrupting economic activity and contributing to sticky food inflation. Interest rates are high. However, there are clear opportunities, such as supply chain realignment, energy transition, digital transformation, and

Granting infrastructure status to hospitality, footwear, and apparel could benefit from a PLI (production-linked incentive) 2.0. An integrated approach to trade, investment, infrastructure, and skilling should be taken. We can look at Customs duties in a three-tier structure to ensure we do not become uncompetitive. Our suggestions focus on employment and improving consumption.