Wednesday, Mar 22 2023 | Time 14:08 Hrs(IST)
Business Economy

Futuristic Budget : FTCCI Prez

Hyderabad, Feb 1 (UNI) The Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman invoked a lot of positive response from the Industry.

Several industry experts, who assembled at Federation House for live viewing of the budget presentation, gave their reaction after the budget presentation was over by the Minister.

Federation of Telangana Chambers of Commerce and Industry (FTCCI) organized the live telecast as well as industry reaction to the budget.

“It is a futuristic budget”, Anil Agarwal, President of FTCCI said.

Anil Agarwal said, it is a growth oriented budget covering all sectors. The seven priorities: Inclusive growth, reaching the last mile, infrastructure development and investment, Unleashing the potential, Youth Power Financial Sector and Green Growth ensure development of all sectors.

Tribal development, their housing, Eklavya Model schools, fillip to infrastructure development, reviving of 50 airports, helipads, the emphasis on rural development, much need help to MSMEs, thrust on Tourism, Skill Centers, raise of income tax limit to 7 lakh offer good to all including the industry, he said.

Srinivas Garimella, Chair of Industrial Development Committee of FTCI termed it as ‘a very good budget. It is also a well balanced budget’.

He appreciated big ticket allocation for the infrastructure development and increase of spending on this sector. The Capex outlay increased by 33% to Rs 10 lakh crore for Financial Year 2024.

Garimella gave a big thumbs up to the Union Minister for her well balanced budget which allocated enough funds for every sector.
The reduced compliance budget is good for the industry. He thanked the Minister for continuing assistance to MSMEs.

VS Raju, Past President of the FTCCI said this budget puts the Indian Economy in a stronger place.
India’s growth at 7 per cent in current fiscal is the highest among major economies. It may be a full budget before the next Lok Sabha election, but it is the budget that is planned to do a lot more good to strengthen our economy, he added.
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