IndiapivotstotopESGnationthroughBudget21-22

The economic survey gave us key numbers for GDP growth: 6,4,-7.7and11 for 2122! Highest growth in the world for India seemed on the cards.

The V shaped recovery is fed by an initial severe lockdown, in kind relief, financial and legal forbearance and some cash in the hands of the poorest. This was followed by calibrated opening up. These actions extended the fisc, caused a current account surplus, led to FDI and FPI flows and an unprecedented foreign currency reserve of US$ 586billion. Clearly, astute reforms and simultaneous supply and demand side actions are in place. Investment in Health, Education, Innovation, infrastructure, and Digitisation and a recapitalisation of the Banks were all signalled.

In what we consider to be the best Budget in over 25 years, the Budget creates the space for India to be:

Fastest growing nation in the world.

Top most leader in implementing the 17 SDGS set out by the UN in 2015.

A leader in implementing the ESG framework.

A leader in reporting on the six capitals of Integrated reporting and thinking. ( it is amazing that there were six pillars on which this Budget was constructed and they follow the framework which is receiving Global acceptance).

The most attractive destination for FDI. ( the Rs 5.15 lakh Crore GOI contribution to capex for infrastructure will be echoed 5X times as completed infrastructure assets get into listed INVITS. An infinite source for future disinvestment has been created as all surplus assets will get monetised at all central and State levels, in departmental undertakings, in PSUs and everywhere else they are held.