Budget supports manufacturing

Chhatrapati Sambhajinagar: The union Budget FY25 is an extension of the interim budget. The fiscal deficit target of 4.9% of GDP for FY25 is laudable. The Budget supports manufacturing sector by facilitating credit availability for MSMEs, providing market development support, and industrial parks with a focus on driving labour intensive manufacturing, financing regulatory changes and exemption of custom duties. Fund availability for powering innovation, research and development and export hubs will facilitate trade and services under one roof.

Adoption of technology towards digitalization of the economy will enhance ease of doing business. The Jan Vishwas bill 2.0 will incentivize states for implementation of Business Reforms Action Plan.

Rishi Bagla, Deputy chairman, CII Western Region