Changes expected within 3 to 6 months: says Birla
According to Kumar Mangalam Birla (head of the Aditya Birla Group), the current budget is going to change situations positively within the next 3 to 6 months as the infrastructure sector is going to be boosted significantly. This was declared after Birla concluded his 45 minute meeting with Arun Jaitley (Finance Minister).
Birla happens to be one of those few industrialists who had the opportunity to meet Arun Jaitley after he started to hold office as Finance Minister. Birla is very much prosperous himself as he is the head of more than USD 40 billion cement-to-telecom conglomerate. According to him, the investments will be kicking in pretty soon.
A final budget is being prepared for the current year by the Finance Ministry and the desire is to be able to begin with the investments as soon as possible which is strengthen and boost the current slow economy.
The industrial output has remained pretty flat last year according to the Index of Industrial Production. Not just that, it had declined 0.1% compared to the percent of the previous year.
Before the economy began to sag from 2008, there had been a 9% growth witnessed over a couple of years. It went down to 4.5 in 2012-2013 and up to 4.9 in 2013-2014. The plan this year is to move it up to a 5.5%.
Source: PTI
9% growth witnessed, Birla Changes expected within 3 to 6 months, boost the current slow economy, Index of Industrial Production, Kumar Mangalam Birla
