'Budget 2019 should focus on research and innovation'

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By Pramod Chaudhari

"With the renewed mandate, the NDA government should continue its focus towards reinforcing key pillars of the economy i.e. agriculture, infrastructure and manufacturing with the underlying intention to generate employment. The budget should encourage industries to renew their focus on research and innovation to maintain an edge in the market place. As India is the 3rd largest importer of petroleum products in the world, the government should step up its endeavours in the direction of energy self-reliance by harnessing biofuels in its energy mix. The budget should provide necessary fiscal incentives towards the production and adoption of biofuels. This should help reduce carbon footprints so as to meet COP21 obligations whilst boosting the rural economy. We expect the budget to balance fiscal consolidation, while also boosting economic growth."

The author is Executive Chairman of Praj Industries India.

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