Nagpur, Feb 1 Reacting to the Union Budget presented by Finance Minister Nirmala Sitharaman, Confederation of All India Traders (CAIT) President B.C. Bhartia said that this Budget has been prepared with a fresh economic perspective, moving away from traditional populist approaches.
Speaking in Nagpur to IANS, Bhartia said that instead of merely trying to please specific sections of society, the Budget focuses on strengthening the nation as a whole by reinforcing India's economy.
He added that the Budget reflects Prime Minister Narendra Modi's vision of making India a strong and globally competitive economic power.
Bhartia also asserted that special attention has been given to youth empowerment, with the opening remarks of the Budget highlighting "Yuva Shakti".
The aspirations and inspirations of different sections of society have been carefully considered, he said.
He also appreciated the emphasis on promoting Ayurveda, which will directly benefit rural communities involved in collecting medicinal herbs, while simultaneously reducing healthcare costs.
According to Bhartia, the Budget also addresses key areas such as education and healthcare by aiming to reduce associated expenses, which is crucial for long-term development.
Initiatives like "One District, One Product" have been strengthened to boost local production and employment.
Provisions have also been made for water conservation in villages, including measures to keep ponds and water bodies replenished.
He also highlighted that special focus has been placed on empowering rural women and increasing their participation in the economy, saying that when money reaches the grassroots level, overall economic growth accelerates naturally.
On the question of special provisions for retail trade, Bhartia said that an entire paragraph in the Budget has been dedicated to MSMEs.
Acknowledging the long-standing issue of credit availability for small businesses, the Union government has announced a separate Rs 10,000 crore fund to support MSMEs.
The CAIT President added that interest rates have been reduced to ease the burden on traders whose funds are often stuck due to delayed payments.
"This will ensure better access to affordable credit, enabling traders and small entrepreneurs to expand their businesses smoothly," Bhartia remarked.
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