Budget has provided a strong growth direction to the Indian economy: Yes Bank CEO

“FY17 Budget has provided a strong growth direction to the Indian economy. The Finance Minister has managed to balance the need to prioritize social sector requirements with economic and business imperatives," Kapoor said.

"The segmented 9-Pillar Approach with well carved out deliverables will ensure execution clarity and focus. By adhering to fiscal deficit aim of 3.5% the Budget creates room for complimentary monetary policy rate cut of 50 bps in the near term and 75-100 bps in 2016, conditioned on favorably evolving macros. Key measure to increase the allocation to infrastructure with an impressive outlay of INR 2.2 lakh crore will help to re-energize the growth multiplier, while the specific measures to improve ease of doing business and favorable tax treatment for start-ups and MSMEs will go a long way in boosting job creation," he said.

Union Finance Minister Arun Jaitley on Monday presented the Union Budget 2016 focusing on rural development and farm and social sector while offering some relief to tax payers as analysts see it as a pro-poor budget with big ideas which is a challenge for the government to implement.