New Delhi [India], January 29 : Amit Goel, Co-founder of Pace 360, has said that startups should be given encouragement in the upcoming interim Union Budget, adding that the government's focus will be on giving the "feel-good factor" to the masses in various sectors.
"Startups should be given encouragement in the upcoming Interim Budget as startups are having problems getting funding right now as the funding scenario is tight currently in the markets," Amit Goel told ANI.
Stating that the rural economy is currently in distress, Pace 360 Co-Founder said that the government can bring some dole-outs for the rural sector.
"The rural economy is facing distress. There are various reasons, such as that the monsoon did not happen as per expectations and there are various drought-affected areas. Also, the sale of FMCG consumer durables is suffering. There will be dole-outs for rural areas. The lower middle class is also suffering. Private consumption growth has been just 4 per cent in recent quarters. I think the government will take measures in this regard," he said.
He further mentioned that the government should peg the fiscal deficit target at nearly 5.5 per cent.
"Instead of 5.9 per cent, a projection of fiscal deficit target of near 5.5 to 5.6 per cent would be acceptable to markets," he said.
Amit Goel further mentioned that there won't be much of a direction change by the government in its long-term economic vision in this upcoming budget.
"If I analyse the last 20-25 year budget, however strong the government is at the centre, the interim budget is just focused on the upcoming elections. And the direction of the long-term economic vision is in the first budget after the government is formed. There won't be a direction change in this budget. The government's focus will be on consolidation, and the government will try to give a feel-good factor to people in several constituencies," he said.
"Government will put focus on infrastructure, defence, power, real estate and everybody will feel like a winner," he added.
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