NEW DELHI: Former Finance Minister and senior BJP leader Yashwant Sinha today hoped that the Union budget will a game changer even as he said that the biggest challenge before the Union Finance Minister Arun Jaitley is to revive the investment cycle in the economy.
“I think that it (budget) is inevitable to be a game changer. Because this is the first full budget of this government…It has got full time therefore budget has to be different…and (I) hope the economy will revive,” Sinha said during round table conference on ‘Will the budget be a gamechanger’ organised by Debating India Foundation.
“I think this time the biggest challenge for the Finance Minister (Arun Jaitley) is how do we revive the investment cycle in this economy,” he said.
He also suggested that the time has come for RBI to cut interest rate by at least 0.5 per cent if not one per cent because the inflation is almost zero.
Referring to the GDP numbers released by Central Statistics Office, Sinha said there is a need for greater scrutiny of data provided by the government body.
As per the new data the 4.7 per cent growth rate for 2013-14 was revised to 6.9 per cent.
He also called for introduction of Direct Taxes code saying, “It is ready and cooked.”
Jaitley is scheduled to present his first full fledged Budget on February 28.
Former Chief Economic Advisor and Economist Arvind Virmani, JNU professor Arun Kumar, Amitabh Sinha from the BJP’s media cell and Ashwini Mahajan of Swadeshi Jagran Manch, where among others who were part of the discussion.