The Budget Shall have a Positive Cascading effect on the economy
The Voice of Chandigarh News:
Budget is a ray of hope for all the sections of society
Karan Gilhotra, Chair, Punjab State Chapter PHDCCI while applauding the Union Budget by Finance Minister Nirmala Sitharaman mentioned that the budget is a ray of hope for all the sections of society. He appreciated the waiver of income tax for annual income upto ₹12 lakh. He stated that it will be a big relief to the middle class of the country which shall have more purchasing power and a positive cascading effect on the economy. He mentioned the provision of another 10000 crore for Start Ups is a new ray of hope for entrepreneurs. While appreciating the decision of increasing the Foreign Direct Investment (FDI) limit in insurance sector from 74% to 100%, Mr Gilhotra said it will get new investments in service sector.
Further he said the government has also taken care of Farmers by enhancing the limit under Kisan Credit Card to ₹5 lakh from ₹3 lakh earlier for the purchase of agricultural inputs such as seeds, fertilizers, pesticides etc. Also the Government has announced to launch the Dhan Dhanya Krishi Yojana, which will be implemented in 100 districts across the country. The scheme aims to benefit 1.7 crore farmers, create rural job opportunities.
Budget shall strengthen the MSME of the country
Mr Madhu Sudan Vij, Chair Chandigarh Chapter, PHDCCI while appreciating the Union Budget announced by Hon’ble Finance Minister mentioned the decision of enhancing MSME cover to ₹10 crore from an earlier level of ₹5 crore will spur the growth of MSME sector in the country which is responsible for employing 7.5 crore people and generating 36% of our manufacturing in the country. He also appreciated the move to add 35 additional capital goods for EV battery manufacturing and 28 additional capital goods for mobile phone battery manufacturing as it will boost domestic manufacture of lithium-ion batteries in the nation. Mr Vij applauded the move to formalising the gig economy and enhancing social security for the country’s growing freelance and contractual workforce by providing them identity cards and registration for gig workers.
Visionary Budget by Union Government to make India go Global
Sajan Kumar Jain, Chair, Haryana State Chapter, PHDCCI while welcoming the union budget announced by Hon’bleFinance Ministermentioned that the announcement of setting up of an “export promotion mission” to facilitate easy credit will make Indian companies go global and expand their business.He further mentioned the Vision of Government to make India a Global hub for Toy Manufacturing will not only support Toy industry but will also generate lot of new employment.
He further mentioned that Government has also addressed the long pending need to rationalise the Tax Deducted at Source (TDS) by reducing the number of rates and thresholds, making the process more taxpayer-friendly. He hailed the Government vision to develop 100 gigawatt of nuclear power capacity in the nation, Mr Jain mentioned as India is the fastest growing economy in the world so we our energy demanding is increasing every day and we need to adopt nuclear energy which is clean and cost effective.
