Business EconomyPosted at: Feb 1 2025 7:31PM


Union Budget reaffirms India as an innovation and knowledge centric economy : SBI Chairman

Kolkata, Feb 01 (UNI) SBI Chairman C S Setty on Saturday stated that the Union Budget reaffirms India as an innovation and knowledge centric economy with a slew of reforms across agriculture, MSME, export centricity, education and healthcare and balancing skills and AI.
"The rationalisation of personal tax reforms could unleash a potential consumption boom of at least Rs 3.3 trillion spend over baseline. The fiscal numbers are conservative," Setty said.
The budget has several bold initiatives for Agri sector aimed at boosting farmers income through crop diversification, participation in Agri value chains and focus on allied activities, he added.
"The MSME sector will benefit from expanded credit availability through credit guarantees, empowering women entrepreneurs and credit cards for micro enterprises. The enhancement of TCS limit on remittances, the enhancement of TDS limits for senior citizens will significantly simplify ease of doing business. Overall, the Budget is a significant step towards making India a global hub for innovation and advanced manufacturing," he opined.
UNI SJC KK
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