Birla meets Jaitley; expects turnaround 3-6 months

Tags: News
Sounding a note of optimism, Aditya Birla Group head Kumar Mangalam Birla today 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 per cent compared with a meager expansion of 1.1 per cent in 2012-13.

The country had registered over 9 per cent 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 per cent in 2012-13. It inched up to 4.9 per cent in 2013-14. In the current fiscal the growth rate is expected to rise further to 5.5 per cent.

EDITORIAL OF THE DAY

  • Mergers apart, Sebi must also allow fund houses to offer diverse products

    The Securities and Exchange Board of India’s (Sebi’s) reported push for merger of open-ended mutual fund schemes is a logical step, as there is li

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Can Hefa actually become a reality?

The ministry of human resource development (MHRD) is actively wo­rking ...

Rajgopal Nidamboor

Creativity is that divine luminosity

Creativity or ingenuity, isn’t a licence limited to ‘functioning’ minds ...

Dharmendra Khandal

No one's getting rich overnight by poaching

We often read in newspapers that tiger skin worth Rs ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture