Union Budget 2015-16 is due for February 28 and the expectations are building up, being it the first of the series by Shri. Narendra Modi Government. Budget 2015 should take various measures to give boost to Indian security industry. These measures include increase in FDI in security industry, improve working conditions of the workforce and achieve 100% statutory compliance.
An investment-friendly atmosphere along with transparency and predictability in tax policies would further fuel a sustainable growth trajectory for India. With IMG lowering the global growth rate for 2015 to 3.5 in its recent Wold Economic Outlook Update and the European Union, India’s largest trade partner, slipped into recession, the new government will be hard pressed to go all out to make sure that our country grows over 6 percentage. With the inflation and the current account deficits falling to the comfortable zones, I believe this is an achievable figure.
Skill development, creating more employment opportunities for youth, improving basic amenities and higher emphasis on capital expenditure on infrastructure should be the key focus. Furthermore, the finance minister’s indication not to burden the middle class with additional tax is welcoming.