Budget Countdown: CII leaders share insights on core focus areas

R Dinesh, President of the Confederation of Indian Industry (CII), expressed confidence in the government's commitment to continuity as the core focus for the upcoming Interim Budget. Speaking during a CII panel discussion, part of CNBC-TV18's special 'Budget Countdown', Dinesh emphasised the importance of sustaining the current growth path, particularly through continued spending on infrastructure.

"Continuity is the core focus, which I'm 100% sure will be the scenario as well," said Dinesh. "The second and the most important is ensuring that we continue on this growth path, and that would be spending on the infrastructure side, which again, is a very fair expectation that it will continue in the same way."

Dinesh highlighted equitable growth as a key objective of the government, with a particular emphasis on enhancing growth in rural areas. He noted, "Equitable growth has been one of the core focuses of this government. Whether it's from the rural side or sectors needing support and growth, that's an expectation we all have for this Interim Budget."

Speaking on the need for equitable support, Dinesh stressed the significance of schemes like the Urban Employment Guarantee Scheme, providing a security blanket for underprivileged sections in rural areas, ensuring economic activity benefits for all.

Sanjiv Puri, President Designate of CII and CMD of ITC, echoed Dinesh's sentiments, emphasising the necessity of attention and investment in rural areas.

"The area that needs some more attention and some more investments would be on the rural side," said Puri. "Greater rural infrastructure spends and supporting states will be helpful. Weather events have been bothering rural areas, impacting agriculture and incomes. A strong movement for enhancing agriculture resilience, through a public-private partnership model, is needed."

Puri also highlighted an emerging opportunity in wood-based industries and real estate, suggesting that leasing degraded or unused forest lands to private players could create an economic model, providing gainful employment while promoting sustainable practices.