ICICI Bank's Chanda Kochhar all praise for Indian 'reforms' at WEF
"We hope tat the Budget would take forward the process of fiscal consolidation and at the same time focus on measures that promote growth."
Kochhar further said: "Measures to encourage financial savings would also be important, given the need to ensure that household savings are channelised into productive sectors."
Concerns have been raised in the recent past about household savings going into idle assets like gold, even as many productive sectors wait for funding.
The government has recently taken some steps to discourage imports of gold. The industry is seeking measures to make other asset classes, such as equity, more attractive to discourage a huge flow of savings into unproductive asset class like gold.
Besides, the government has liberalised FDI norms for retail as well as aviation sectors and partially decontrolled diesel prices, among other similar steps.
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