homevideos Newsauto NewsBudget 2019 could have done better to get the demand cycle going, says M&M's Pawan Goenka
Budget 2019 could have done better to get the demand cycle going, says M&M's Pawan Goenka
The Union Budget 2019 could have done better in terms of getting the demand cycle going, said Pawan Goenka, managing director of M&M, after finance minister Nirmala Sitharaman presented her maiden Budget on Friday.
"This Budget checks the boxes in many areas but perhaps in terms of getting the demand cycle going, it could have been a little better. We are well aware that there was not that much fiscal room available to do anything big bang," he said in an interview with CNBC-TV18.
However, he said steps taken towards NBFCs and state-run banks will improve the liquidity situation, which in turn, could improve the demand for vehicles.
"What is positive is what is being done with NBFC and PSU banks which will hopefully improve the liquidity situation for the financing of the vehicles on the ground and also hopefully bring the interest rates down, so that in itself will certainly be a big push," said Goenka.
Presenting the Budget, Sitharaman, India's first full-time woman finance minister, proposed measures to ease liquidity crisis facing shadow banking sector (NBFCs) and providing Rs 70,000 crore capital to public sector banks while seeking to raise additional resources through privatisation of some PSUs.
First Published: Jul 5, 2019 11:27 PM IST
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