Gautam Adani says that Budget 2016 should boost India’s Bahubali stature

This February 29^th, Finance Minister Arun Jaitley would be presenting the annual budget. On the upcoming budget, Gautam Adani, the business tycoon, told ET that, "It is India that stands firm like Bahubali in an otherwise sluggish global business environment. The general prediction indicates that the world is facing a prolonged economic slowdown with the global GDP growth rate trending to an annual average of 2% over next five years."

The timing of annual budget has come when the global economic environment continues to be troubled by one reason or the other. To revive the investment momentum, India Inc will be looking forward to signals. While one can always think of public spending as an option, job creation and income growth can surely be seen as an option for broadbased industry-led capital expenditure.

Adani says that Jaitley should keep India's firm stand in mind for this edition of budget. "Majority of the economic matrix that matters for the growth of a nation are trending in the right direction for India," he said.

On the other hand, Jaitley has said that it is important for India to emerge out of the crisis stronger, because it stands on a much higher and stabler footing as compared to other nations.

"Unpredictability and volatility have become the new global norm. In these circumstances, it is extremely important for India to emerge and emerge out of the crisis even stronger," Adani added. He was addressing the Invest Karnataka 2016 summit.

Jaitley also said that India is "relatively unimpacted" by some of the factors which caused the global crisis and put the world economy in a complex.

"Lower prices of oil and metal commodities substantially suit us. It indirectly impacts us because it shrinks our exports; it makes our markets more volatile, currency more volatile. But compared to the rest of the world, we are still on a much higher and stabler footing," he further added.