Lauding the Union Budget 2022-23 presented in the Parliament on Tuesday, Indigo Chief Executive Officer Ronojoy Dutta welcomed the new incentives of the government regarding issuing of E-passport and the introduction of digital currency by the Reserve Bank of India.
However, the CEO also said that they were "expecting tax concession to the Aviation Industry in the form of a cut in ATF excise duty and allocation of concessional finance to airlines to help come out of the pandemic."
In a statement, Dutta said, "We expect the budget would enable India to achieve a growth estimate of 9.2 per cent. We welcome the new incentives of issuing of E-passport and the introduction of digital currency."
He further said that the Budget appears to be a growth-oriented one by an increase in the capital outlay of Rs 7.5 Lacs crores.
"Budget 2023 appears to be growth-oriented by an increase in the capital outlay of Rs 7.5 Lacs crores, fiscal deficit capped at 6.4 per cent and efforts are being made to reduce compliance burdens and improve ease of doing business," Dutta said.
Meanwhile, India has set a target to reduce fiscal deficit to 6.4 per cent of GDP in 2022-23 from the estimated 6.9 per cent in the current financial year, Union Finance Minister Nirmala Sitharaman said on Tuesday.
Talking about the PM Gati Shakti plan of the government, Dutta said that it will "strengthen the much-needed multimodal connectivity and facilitate seamless movement of cargo, while reducing logistics costs."
"PM GatiShakti is a transformative approach for economic growth and sustainable development. The approach is driven by seven engines, namely, Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure. All seven engines will pull forward the economy in unison," Finance Minister Nirmala Sitharaman said earlier today while presenting the Union Budget 2022-23 in Parliament.
One of the priority areas of the government in the coming years would be the PM Gati Shakti programme. Seven engines of the PM Gati Shakti initiative are roads, Railways, airports, ports, mass transport, waterways and logistics infra.
The Union Cabinet on Tuesday approved the Budget 2022-23 which was presented by Finance Minister Nirmala Sitharaman in Parliament. The meeting began at around 10:20 am ahead of the Budget presentation.
Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others were present at the Parliament for the Union Cabinet Meeting ahead of the Budget presentation.
Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry.
( With inputs from ANI )
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