CEOs expect Budget 2021 to kick-start next wave of investment cycle

Companies plan to hire more, expect staff to return to offices in new year

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With a tumultuous year behind them, chief executive officers (CEOs) in India are eyeing the 2021 Budget to help kick-start the next wave of the investment cycle, which was hit by the pandemic. Backed by several steps taken by the government and the Reserve Bank of India (RBI) including the debt moratorium scheme, the CEOs are expecting the economy to show growth next fiscal year if India succeeds in its vaccination drive. A survey of 33 CEOs across India in December shows that almost 73 per cent of the respondents plan to invest more in the new year even because they expect their employees to return to work as the country rolls out vaccination in January.

The Budget will be the key as CEOs are expecting the government to dole out more incentives. “The government was prompt in listening to industry after the outbreak of the pandemic, and its multi-billion-dollar economic package will be helpful in long-term demand revival,” said the CEO of a consumer products company. Another CEO said the government tried its best on every front to counter the crisis. However, investing in a new Parliament building and the bullet train was avoidable, the CEO said…Read More

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