Hyderabad, 1st February 2024: “The interim budget by the Finance Minister continued with upholding India's impetus on inclusive and sustainable growth, backed by responsible and efficient governance. It was a pleasant surprise to see aggressive fiscal deficit goals and stable macroeconomic performance, while furthering capex on physical infrastructure as well as DPI”, said Mr Kamal Bali, Chairman, CII Southern Region & President & MD, Volvo Group India in a statement issued today.
The one-lac crore support to technology & innovation is a very thoughtful and a compelling idea that will propel India on course to Viksit Bharat. Likewise, is the focus on farm sector and MSMEs and support to green public transport, he added.
Overall, an outstanding interim budget said Mr Kamal Bali.
“The National Education Policy (NEP) 2020 is ushering in transformational reforms. The Skill India Mission for instance has trained over 1.4 crore youth, upskilled, and reskilled 54 lakh youth, and empowered the youth to become self-sufficient, by fostering entrepreneurial aspirations. Under these reforms, Rs. 43 crore loans have been sanctioned under the PM Mudra Yojana,” said Dr R Nandini, Deputy Chairperson, CII Southern Region and Managing Director, Chandra Textiles Pvt Ltd
“Furthermore, many higher learning institutions have been set up including 319 Universities, 3,000 new ITIs, 7 new IITs, and 15 AIIMs across the country. All these have contributed to the growth of the economy. Also, Startup India and Startup Credit Guarantee Scheme are helping our youth become Rozgaar Daata” she added.
“The Government’s initiatives and efforts to boost farmer’s incomes are expected to reap rewards with the PM Sampada Yojana scheme already benefiting 38 lakh farmers. Also, the PM Formalisation of Micro Food Processing Enterprises has assisted 2.4 lakh SHGs to date”, said Mr C K Ranganathan, Past Chairman, CII-SR and CMD, CavinKare Pvt Ltd.
The Matsya Sampada program is to be stepped up after it becomes a separate department of fisheries will further help fishermen improve their livelihoods. Seafood exports have already doubled and the announcement of the five Aqua parks will boost employment helping the Southern States to a large extent,” he added.
Mr Shekar Reddy, Chairman, CII Telangana and Chairman & Managing Director of CSR Estates Ltd, greeted the interim budget and described it as a pleasant surprise, considering the limited expectations. He expressed his appreciation for the optimism conveyed about the positive impact of providing shelter for the underprivileged. Mr. Reddy suggested the initiation of a program specifically addressing homelessness and rentals, anticipating a significant boost to the infrastructure sector. He highlighted the significance of the housing scheme for the middle class, emphasizing its potential benefits for both the middle-class population and the ancillary industries closely associated with the real estate sector.