5 April 2024 – Manish Kejriwal, the founder of venture capital firm Kedaara Capital, has proposed a departure from the annual budget tradition in favor of setting financial plans and policy direction every three to five years. He emphasizes the importance of consistency in policies and tax rates to address key pain points faced by India Inc.
Kejriwal suggests transitioning from an annual budget to a longer-term budgeting cycle to provide stability and clarity to businesses. He argues that this approach would allow for a more predictable regulatory environment, reducing uncertainty and facilitating better long-term planning for companies. The proposed system aligns with the electoral cycle and aims to ensure greater policy continuity over time.
The Kedaara Capital founder highlights the challenges posed by frequent policy changes and fluctuations in tax rates, emphasizing the need for consistency in government policies. He believes that a stable policy environment is crucial for fostering investment and growth in the country’s economy.
While acknowledging the inevitable differences between corporate aspirations and regulatory constraints, Kejriwal appreciates the recent trend of increased transparency and candid discussions on potential reforms. He emphasizes the importance of honest dialogue between the government and the corporate sector to address concerns and foster a conducive business environment.
