India is emerging as a key investment destination for global investors. The Union government is taking marked strides towards making the country attractive for corporations across the world.
Keeping in line with this sentiment, the finance minister should in the Budget address uncertainties around taxation and introduce measures towards creating a more positive environment for increased FII participation.
The focus should be on taking forward the government's wish list on financial inclusion, namely affordable housing, bank accounts for all and building smart cities, joining hands with the corporate sector.
Collectively, we need to attract FDI in infrastructure, education, health and housing sectors.
The Budget should be conducive to the investors and should help revive the investment cycle.
The government needs to ensure that people are incentivised to participate in urban housing building by giving them the opportunity to raise money from the system - both domestic and international. The requirement of funding in our country that is required across sectors is gigantic, making it relevant for the government to pitch aggressively for foreign participation.
(The author is Chairman & Managing Director, DHFL.)