-Senior economist Chandrashekhar Tilak: union budget analysis programme
Aurangabad: The union Budget presented by union Finance Minister Nirmala Sitharaman is a big step towards a self-reliant India through public participation, said senior economist Chandrasekhar Tilak while speaking at the ‘Union Budget Analysis Programme’ held by CMIA recently.
Tilak said, as part of the government's push towards self-reliance, India aims to produce more than 75 percent of defence equipment in the next five years, with only Indian companies being given high-cost work. This is expected to provide employment on a large scale and reduce the country's import burden. The government has made substantial provisions in defence, sports and education. The budget also includes provisions for AI, data analytics and 5G technology which will drive the country's growth.
The budget has also strengthened the infrastructure with a provision of Rs 2.40 lakh crore for railways and the doubling of average road construction days. The railway and road projects in North East India will establish effective connectivity to these states, helping the economic growth and industrial development. The Eklavya Yojana in the education sector will work towards reducing backwardness in education, especially in Jammu Kashmir, Leh Ladakh, and North Eastern states. Tilak also addressed the taxation system and advised taxpayers to be vigilant about which tax system would benefit them more while filing their income tax returns. Ravindra Manavatkar, Milind Kank, and other industry representatives were present.