We are on the path of a V-shaped recovery

Prashanth GJ, CEO, TechnoBind

"Yes - there are pointers to a V-shaped recovery and are being talked about by the industry experts. But I would like to exercise caution and would say that to vehemently declare that we are on the path of a V-shaped recovery is slightly premature. Can we get onto a V-shaped recovery - surely yes. There are many reasons to support this - the fact that vaccines are now reality will bring in the much-needed confidence for the economy - we will see investments that were on a go-slow mode pick up steam, which will have a cascading effect for the positive on the economy. We have already seen 2 or 3 months of rising GST collections - they are surely tell-tale signs of a positive upward trend. But it is also a fact that India has lagged behind other emerging economies and that is where the budget needs to focus on - how do we work on the 'ease of doing business' part and the squeezed up liquidity situation for the Indian Corporates. Core sectors like steel, power, cement are still declined and this need to be spruced up with support in the budget, for these core sectors, recovery is very important for the overall economy to be in the growth model. The informal sectors which in essence have a big part in the Indian scheme of things also need to be looked into during the budget to ensure that this V-shaped economy that we are hoping for becomes a reality and India can benefit from the same".