ICICI Bank CEO says Budget 2015 empowers entire India
New Delhi, Feb 28 : ICICI Bank CEO and MD Chanda Kochhar on Saturday said the Union Budget 2015, which was introduced in the Parliament earlier in the day, will empower the entire country and touches the requirements of everyone.
"This budget empowers entire India, because it actually increases the devolution to the states, it actually talks about the youth of India by taking care of skilling and training requirements. It talks about entrepreneurship, innovation. It touches the requirements of everyone," Kochhar said.
"There is a clear focus on infrastructure. There is a clear acceptance of the fact that the initial push needs to be given by public investment. There is directional clarity about how to push infrastructure through various sectors," she added.
The ICICI bank chief also hailed the pragmatic approach of the budget towards fiscal discipline.
"There is a very pragmatic approach towards fiscal discipline, while it maintains the current levels, it actually balances out the long term fiscal discipline with the growth requirements of the country and I think it is a very pragmatic approach," she said.
Finance Minister Arun Jaitley today announced a host of measures in Union Budget 2015 -16, including the slashing of corporate tax to 25 per cent from 30 percent over the next four years and the deferment of the General Anti- Avoidance Rules or GAAR by two years.
He also announced that the government will target a 3.9 per cent fiscal deficit for year starting April 1, 2015, adding that the real GDP growth is expected to be 7.4 percent.
Prime Minister Narendra Modi has also hailed the Union Budget for 2015-16 as a budget with a clear vision, and one that is progressive, positive, practical, pragmatic and prudent. (ANI)