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Budget package evades most of needy farmersBudget targets politics & progress: Moody’sUpset with Budget, Nath to meet PMCurrent tax slabs to stay: Chidambaram

: outlets in the country, nearly 5 million sell food and related products. In fact, this year too, India has topped AT Kearney’s annual Global Retail Development Index for the third consecutive year, maintaining its position as the most attractive market for retail investment. The industry accounts for 10% of GDP and around 8% of the total employment in India.

At pharma giant Ranbaxy, the budget proposals will be analysed by senior executives from corporate affairs, marketing, R&D and finance departments. Says Malvinder Mohan Singh, CEO & MD, Ranbaxy, “Together with my in-house team, we will make a summary note that will assess the broad impact of the budget on the company’s operations holistically. However, once the budget proposals are available in detail, further analysis and study will be done to develop a macro strategy.” Singh will spend the first half of the day to follow the budget and do the analysis.

Similarly, in the banking space, Rana Kapoor, managing director and chief executive officer, Yes Bank, says his management team comprising sectoral specialists from finance, pharma, infrastructure and engineering will analyse the implications of the budget proposals on various sectors. He feels that that the banking sector is not directly affected by the policies announced in the budget, but is generally a benefactor of the proposals. “The banking sector leverages these announcements to refine its growth strategies. However, any impact on direct taxation has an impact on the employees of the bank,” he adds.

Since the banking sector has a significant role in pushing up the growth rate of the rural economy, Kapoor expects this year’s budget to provide significant impetus to agriculture and agro-based industries. “Likewise, all segments of hard and soft infrastructure, which have now begun to restrict India’s full economic potential, are expected to receive major thrust in the budget,” he adds.

Typically, it takes around six-seven hours for the finance department of the company to do the first-cut analysis of the budget. The various implications of the provisions of new taxes — direct and indirect—are calculated and the senior members of the company are briefed duly. Then the final presentation is made in a couple of days to the senior management of the company and the management decides if any changes need to be made in the prices of the products.