Ahmedabad, Feb 1 Industry representatives in Ahmedabad on Sunday welcomed the Union Budget, describing it as balanced and inclusive, with a clear long-term vision for economic growth across sectors.
Speaking after the Budget presentation, manufacturing and industry leaders highlighted the emphasis on fiscal discipline, public health, agriculture, manufacturing and ease of doing business.
Nirag Choksi, Co-Convenor of the Manufacturing Panel at the Confederation of Indian Industry (CII) and Director of Tacklers Engineering Pvt Ltd, said the Budget sent a positive message to the economy.
“It has been a very good Budget. The overall outline given by the Finance Minister for every sector makes the country’s progress certain,” Choksi told IANS.
He pointed to the year-on-year reduction in the fiscal deficit as an encouraging signal of macroeconomic stability.
Choksi said public healthcare had received significant attention, particularly through schemes for persons with disabilities and initiatives related to mental health.
He referred to the allocation for the National Institute of Mental Health and Neurosciences (NIMHANS) and said the integrated approach towards Ayurveda, yoga and holistic healthcare reflected a broader and inclusive vision.
He also welcomed measures aimed at subsidising new cancer drugs, calling them important for the common citizen.
On agriculture, Choksi noted the focus on incentivising new and high-value crops. He referred to support for coconut growers in Andhra Pradesh and initiatives linked to export-oriented crops and products such as saffron and sandalwood.
He added that proposals to strengthen Ayurvedic institutions and promote traditional systems of medicine were steps towards leveraging India’s indigenous strengths.
Commenting on manufacturing, Choksi said the sector continued to grow and was being supported through targeted interventions in defence, aerospace, railways, roads and infrastructure.
He said the push for development in tier-II and tier-III cities, new skill institutes, ports and aerospace facilities, along with support for repair and ancillary units, would strengthen the industrial ecosystem.
“It is a moment to be optimistic, support the Budget and move forward with hard work and proper evaluation,” he said.
Jayanth Murthy, Co-Convenor of the Manufacturing Panel and Joint Managing Director of Kaizen Institute SAIN LLP, said the Budget had placed strong emphasis on ease of doing business.
“This is very important as it can bring relief in taxation and simplify procedures for businesses and businessmen,” Murthy told IANS.
Industry participants said the focus on simplifying compliance, encouraging investment and maintaining fiscal discipline was in line with ongoing reforms aimed at sustaining growth and improving India’s competitiveness.
--IANS
mys/dan
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor