Birla meets Jaitley; expects turnaround in 3-6 months
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Indian Budget 2014-15, Union Budget 2014-15, Budget 2014, Arun Jaitley, Kumar Mangalam Birla,Aditya Birla Group,Finance Minister,Arun Jaitley,Budget 2014

Last Updated: Saturday, June 14, 2014, 14:58
 
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Indian Budget 2014-15, Union Budget 2014-15, Budget 2014, Arun Jaitley, Kumar Mangalam Birla,Aditya Birla Group,Finance Minister,Arun Jaitley,Budget 2014
New Delhi: Sounding a note of optimism, Aditya Birla Group head Kumar Mangalam Birla Wednesday exuded confidence that the Budget would give boost to infrastructure sector and a turnaround would be visible in the next 3-6 months.

"I expect a turnaround to happen in 3-6 months. I also expect budget to give a boost to infrastructure sector," Birla said after a 45-minutes-long meeting with Finance Minister Arun Jaitley.

Birla, head of over USD 40 billion cement-to-telecom conglomerate, is one of the first few industrialist to have met Jaitley after he took over as Finance Minister.

On plans of investment in India he said: "the group will kickstart investments soon."

Finance Ministry is getting ready to present the final budget for 2014-15 in which the efforts are likely to be made to kickstart investments and give a boost to the sagging economy.

Industrial output as measured by the Index of Industrial Production (IIP) remained almost flat in 2013-14 and declined 0.1 percent compared with a meager expansion of 1.1 percent in 2012-13.

The country had registered over 9 percent growth for a few years before the global financial meltdown of 2008 pulled it down. The economic growth rate slipped to decade's low of 4.5 percent in 2012-13. It inched up to 4.9 percent in 2013-14. In the current fiscal the growth rate is expected to rise further to 5.5 percent.



PTI

First Published: Wednesday, May 28, 2014, 21:31


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