Budget 2022: MGNREGA capitalisation important; infra spending boost must, says Kotak’s Nilesh Shah

In an interview with CNBC-TV18, Nilesh Shah, MD and CEO of Envision Capital and Nilesh Shah, MD of Kotak Mahindra Asset Management gave their key expectations from Union Budget 2022.

Nilesh Shah of Kotak said, “This has to be pro-consumption budget where consumption has remained below pre-pandemic. There is a need to ensure that MGNREGA is capitalised well, and also if we can launch urban MGNREGA, especially for people who have been hit heavily by the pandemic, like school bus operators, hotel and restaurant workers, tourism and travel workers, and at the same time, we have to create jobs.”

He added, “Government now has the fiscal space thanks to the better tax collections so government should continue to spend on infrastructure development in railway, outside of railway and that will be positive for generally capital goods to engineering companies.”