Budget 2018-19: What the ad industry wants from the Finance Minister
With just a couple of days to go for the presentation of the Union Budget for 2018-19, the advertising industry is upbeat about a Budget that will spur overall growth in India’s economy. Ashish Bhasin, Naresh Gupta and Ramesh Narayan share their Budget wish list with Adgully…
Ashish Bhasin, Chairman & CEO South Asia Dentsu Aegis Network:
I anticipate that the Union Budget of 2018 will drive growth, and whenever the economy grows, the advertising industry benefits. I see a particular thrust from the Government in the areas of infrastructure development as well as rural development. We have had a reasonably good monsoon, the rural economy is starting to look up and another push in the same direction will significantly benefit all consumption-led sectors, including FMCG, which are heavily advertised.
I think the Government will make efforts to ensure that there is more money in the pockets of the common man, hopefully by giving some relief on the income tax front and will use technology for better tax compliance, thereby keeping the fiscal deficit under control. The fiscal deficit is very important from the point of view of controlling inflation.
Overall, I feel that India is poised to see better economic growth over the next 10 years and a little bit of help from the Government policies, through the Union Budget of 2018, will further help the economy outperform the rest of the world.
Naresh Gupta, Managing Partner and CSO, Bang in the Middle:
This is what I would like to hear:
Make it easier for the private sector to invest in growth. Massive investment in small and informal sector is needed to make India grow at the speed of China.
I would also like to see a massive investment in sports infra in India; if India has to solve its current health crisis, it can be solved only by investing in sports infra. Make it financially viable for schools to push sports, for colleges to build infra, for corporates to look beyond just the health insurance premiums. This Budget can start a revolution.
Ramesh Narayan, Founder, Canco Advertising:
The advertising industry is a reflection of the health of the economy. If the economy does well, the advertising industry does well. I wish the Finance Minister continues on the path of overall reforms. In any case, this is an election year and it augurs well for the advertising industry.
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