Budget 2021: Higher capex focused on growth a major boost, says Sanjiv Bajaj

Finance Minister Nirmala Sitharaman has announced Budget 2021 which has enthused the markets. In an interview to CNBC-TV18, Sanjiv Bajaj, Chairman & MD of Bajaj Finserv, Vice President of CII gave his take and outlook on the road ahead.

Bajaj said, "Overall this Budget has been a big bold Budget that has focused on growth. The Budget allocation whether for infrastructure, healthcare, education, agriculture has been very strong. A large part of the money will go towards capex which means you are investing for the future and this should help with significant amount of livelihood creation as well."

"The asset reconstruction and management company that is going to be setup is a very important step that the government has taken. It will free up the public sector banks from their large NPAs to focus on new credit and which is very important to do if you have to get all these sectors to grow. The government has also committed some additional capital, I think Rs 20,000 crore that will go in to these banks, they have also talked about divestment of two of the PSBs and one general insurance company. So money is going to come in from there as well", he said.