Budget 2016: 'Expect govt to increase focus on infrastructure, social welfare schemes'

The government needs to allocate more funds for the development of physical infrastructure and social welfare schemes in the upcoming Budget, Vikaas M Sachdeva, Chief Executive Officer of Edelweiss Asset Management Limited has said. 

"Most people are looking towards India as a growth story which will remain relatively unscathed in the global turmoil," he said. However, there are certain areas government's investment plans need to focus on to ensure India's growth story delivers on its expectations, he added. For this, "Investment in physical infrastructure which includes aggressive growth targets towards building roads, railways, ports, electricity, energy," is essential, he added. 

The government should also allocate "higher wallet share towards social infrastructure which includes education, health and sanitation, skill development, and other social welfare schemes," Sachdeva said. 

Over and above this, according to him, "one of the key areas that need desperate attention is a nuanced, yet fast-tracked spend on the defence sector."

"I look forward to the budget giving several incentives to the private sector to join hands with the government in not just investing, but also reaping the benefits of activity in the aforementioned sectors, he said.