Union Budget 2020: Regulatory reforms needed for better business environment

By Shreevkar Kheruka

In order for generating employment, the budget should also consider further incentives for boosting Make in India and look into new mechanisms to prevent whole-sale dumping of goods by many countries into India, specifically in the area of solar energy. Given the deceleration in economic growth the FM may be compelled to look at measures both for immediate impact and for longer term growth. The budget will have to play a fine balancing act between managing the deficit and providing a boost to flagging economic growth. Also, India's ease of doing business ranking improved last year from 77th to 63rd. The government needs to push ahead with sustained regulatory reforms to provide a conducive business environment.

(Shreevar Kheruka, CEO of Borosil Glass Works Ltd.)