Welspun Group - Latest News Update, Information, Photos & Videos on Welspun Group at Lokmat Times

Speaking to , Vineet Agarwal, Managing Director, Transport Corporation of India Limited (TCIL) said the Budget is encouraging for farmers and offers affordable housing to the people."The Budget is nice for farmers as there is encouragement in various fields, including agricultural entrepreneurship. This is also nice for the common man as it is talking about affordable housing," Agarwal, also Vice-President, Associated Chambers of Commerce and Industry of India (ASSOCHAM), said.Calling the Budget "transformational", Balkrishan Goenka, Group Chairman, Welspun Group and President, ASSOCHAM said the Budget is good for farmers as it talks about agriculture infrastructure."One of the main issues before the farmers is lack of infrastructure. There is no proper infrastructure for food grains. The Budget is good for farmers from this point of view," he told .He also said Union Finance Minister Nirmala Sitharaman's maiden budget is a mega investment-oriented initiative with a strong focus on scaling up rural infrastructure and demand along with a slew of tax simplification measures, aimed at boosting growth, and maintaining a high level of fiscal discipline.At an interactive session organised by ASSOCHAM, Goenka said the Budget is aimed at taking the Indian economy to USD five trillion by 2025.He said, in the Budget, the government has focused on affordable housing with higher tax benefits to end users, start ups, sustainable development, and 'Make in India'.It also gives a firm assurance of ease of living for common citizens and businesses by tax authorities, he added."The initiatives like e-assessment, inter-changeability of PAN and Aadhaar, and digital payments would make a big difference to tax payers."Likewise, the increase in the threshold for lower corporate tax of 25 per cent to Rs 400 crore annual turnover would encourage higher investment which would also get a boost from proposals like further liberalisation of FDI norms in sectors like insurance intermediaries and aviation," Goenka said.He said the roadmap for a huge investment in railways with the involvement of the private sector would create a spillover for several sectors."Besides the low-hanging areas of tourism wherein several iconic sites are being identified would lead to immediate gains," he added.The ASSOCHAM President also said the next phases of affordable housing and national highway projects should also be growth drivers."The disinvestment target of Rs 1.05 lakh crore along with the commitment to disinvest Air India would be good efforts to enhance the fiscal stability with fiscal deficit being pegged lower at 3.7 per cent of GDP. Likewise, the re-capitalisation of the public sector banks by Rs 70,000 crore should increase lending including to the stressed sectors of the economy."Goenka further said the focus on 'Make in India' is visible as also emphasis on sustainable development by measures like electric vehicles and renewable energy."Boost to high-technology manufacturing like semi-conductor and commercialisation of space technologies are innovative measures. Overall, it is a business-like Budget taking into the account the ground reality. The gains would be visible in a sustained manner," Goenka said.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Welspun GroupFOLLOW

Welspun group, Latest News

Maharashtra :Mumbai: Chairman of Welspun Group buys India's biggest residential property deal penthouse worth Rs 240 crore

Business :Welspun One signs a MoU with Tamil Nadu Government to invest INR 2500 Cr in the state

Welspun One Logistics Parks (WOLP), a pan-India integrated fund, development, and asset management platform, part of the USD 3.5 billion Welspun Group, has signed a Memorandum of Understanding (MoU) with Guidance - the Government of Tamil Nadu's noda ...

Business :Welspun Corp reports Q4 net profit at Rs 138 cr

Pipe manufacturer Welspun Corp, part of the 2.7 billion dollar Welspun Group, on Wednesday, reported a consolidated net profit of Rs 138 crore in the quarter ended March as against a net loss of Rs 149 crore in Q4 FY19. ...

Business :Welspun Enterprises adds prime toll road to infra portfolio

Welspun Enterprises, part of the 2.7 billion dollar Welspun Group, on Thursday announced plan to acquire a build-operate-transfer (BOT) toll project from Essel group's company Mukarba Chowk Ppat Toll Roads Ltd (MCPTRL).Upon achieving commercial opera ...

Business :Industry leaders hail 'transformational' Union Budget

Hailing the Union Budget 2019-20 as "transformational", industry leaders on Friday said it offers a lot for farmers and the common man. ...