Pawan Munjal, managing director and CEO of Hero Group spoke to NDTV Profit about the economy and his expectations from the upcoming Union Budget.
Here are the edited excerpts:
What's the feedback from global business leaders about what the government is doing?
India is the bright spot, but government needs to do more on ease of doing business, infrastructure, inviting capital and foreign direct investment into the country. People want to do things fast and don't want to go through delays and red-tapism, etc. The government is focusing on this and we have improved our ranking, but a lot still needs to be done.
Budget is around the corner. Do you think the government will increase public expenditure?
I am personally confident that finance minister in this Budget would do a lot of stuff to change the sentiment and mood in the country. Clearly people and industry are looking to a bright future. But currently we have not seen things move. Especially for my industry, we are having tough time in rural market which is pulling us down. Monsoon is one thing, but I am sure there are lots of other things which can be done.
Should the Budget focus on rural economy?
Budget has to be rural focused and government should allocate more funds to the rural economy to ensure that there is money in the hands of buyer and consumption really kicks off again.
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