Finance Minister Nirmala Sitharaman on Saturday, using the announcements made in the Budget, advised India Inc.
To increase Capex “quickly” so as to accelerate the virtuous cycle of investment.
He stressed that this is the right time to invest and the industry should not miss this opportunity.
The government has lowered the corporate tax rate to encourage the private sector to increase investment that has been stagnant for the past few years. However, this was exacerbated when the COVID-19 epidemic broke out.
He stressed that there are huge opportunities in the sunrise sector, as well as in the new age sectors such as bulk drug vaccinations and genetics.
“Sit back and quietly take a call. India needs capacity expansion and that is going to start the moral cycle.