Indore (Madhya Pradesh): While FICCI Flo Indore chairman gave 10 on 10, its members and captains of different industries were more than satisfied with the Union budget, which broadly remained inclined towards the middle class and farmers.
However, some of them, who were associated with industries, said that manufacturing sector was left disappointed.
Massive increase of 33 per cent in capital expenditure, increase in the capital of PM Awas Yojana and provision of Rs 2.40 lakh crore for Railways were among the announcements which brought smiles on the faces associated with the industry.
FICCI FLO did a real time analysis of Union Finance Minister Nirmala Sitharaman's budget speech at Hotel Radisson.
Experts from accounting, tax advisory firm BDO and ANGC Group were present along with women entrepreneurs who decoded the budget. BDO's Abhishek Anand and Ashish Gangarade analyzed the total announcements and said that the government's budget is going in the right direction.
That the government wants to reduce the deficit to 4.5 per cent of GDP over two years is a big and positive target.
Although he described the budget as progressive, GFID president Deepak Bhandari said that there was not much for the government to do in the current situation.
Digital library unique initiative
The most unique thing in this budget was the announcement of the National Digital Library. This is unique and a great step to give direction to the new generation. Amritkaal's budget seems to be as per the name. Green energy, infrastructure, MSME, middle class ...there is something for everyone. I give 10 on 10 to the budget.
Payal Aggarwal, chairman FICCI Flo, Indore
Industry needs more relief
Industries in the manufacturing sector needed more relief. Issues like import duty needed attention. The budget has been focused only around individual tax in view of polls. There is no major announcement on agriculture produce either. The FM marginally touched millets topic and move to other issues. Announcement was made regarding digital payments, but measures are also needed to prevent digital frauds. In my view, the budget is plastered.
Jyoti Garg, director, Goran Foods
It’s a satisfactory budget
A whopping 33 per cent increase in capex will give a boost to the economy and growth. This will definitely create employment as well. The proposal to increase the limit on carry forward of losses for start-ups is a welcome step. Start-ups will continue to get tax exemption. Such new entrepreneurs and new industries will be able to stand up. The provision of women's savings scheme is also good.
Rashi Mantri, Chartered Accountant
Will have a positive effect
The budget is positive. Attention has been paid to women and rural areas. The announcement to open nursing college will directly benefit women and the health sector. Raising funds in credit guarantee is also a good decision. The start-up policy has also been strengthened. The effect of the budget will be that if industry and infrastructure will increase, employment will also increase directly. Future growth has been taken care of.
Jayashree Nair, director, ANGC Group
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