Shekhar Sanyal,
Director & Country Head,
The Institution of Engineering and Technology
“The new government’s Union budget for the year 2014-15 is a welcome move with a more strategic focus, concentrating on mid-long term implications towards sustainable growth. The commitment to achieve 7-8% economic growth in the next 3-4 years anchoring on the core sectors is much needed to revive the sluggish economy.Â
The government’s move to establish more IITs and IIMs is great to strengthen the pool of quality technical talent that will enable India’s journey to be a scientific power. The budget is aligned with our vision and we see immediate opportunity from each section of the society – government, corporate and academia to collaborate for economic development.
 The budget’s special emphasis on encouraging entrepreneurs by providing funds and establishing business incubators in each district will provide a platform to build the next big global companies from India, many of which will leverage technology for growth. Significant fund allocation to the solar and power sector is a positive step towards a result oriented transition to a more sustainable energy independent country. Government’s focus on domestic manufacturing sector which has not seen progress is set to evolve with the fillip in investment allowance. This will generate more employment opportunities and attract young talent.”
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