 Early Times Report
JAMMU, Feb 1: Rahul Sahai, Chair of PHDCCI Jammu, expressed his positive views on the recently presented interim budget, describing it as inclusive, growth-oriented, and a crucial step towards the development of a 'Viksit Bharat' (Developed India). While acknowledging it as the best one could expect from an interim budget, Sahai particularly commended the bold move on fiscal consolidation, targeting a fiscal deficit of 5.1%, which he believes will ensure strict inflation management.
Sahai emphasized that the substantial Capex growth of over 11% to Rs 11,00,000 crores will have a cascading effect on construction activity, employment generation, and an increase in rural demand due to rising incomes among the rural poor. He highlighted the significance of the budget's alignment with the principles of "Jai Jawan, Jai Kisan, Jai Vigyan, Jai Anusandhan," especially the focus on technology and innovation.
Expressing his satisfaction with the budget's attention to technology and innovation, Sahai emphasized the importance of involving the tech-savvy youth in research and development. He praised the allocation of a Rs 1,00,000 crore corpus with a 50-year interest-free loan for long-term financing, anticipating that it will spark a revolution in research and development in the country.
While Sahai noted the absence of specific mentions on manufacturing, he pointed out that the announcement of three corridors will significantly impact reducing logistics costs, thereby enhancing the competitiveness of Indian manufacturing.
Summing up his assessment, Sahai characterized the interim budget as directional, bold, and clear, with a strong focus on inclusiveness, growth, development, and women empowerment. He also highlighted the government's confidence, indicating a potential return for further budgetary measures in the same direction. |
