“The budget proposals this year brought a sense of Déjà vu with a number of CII recommendations finding a place in it, like last year. The budget tick marks most of the items on the CII wish list - higher capital expenditure, continued focus on infrastructure; gradual glide path to fiscal consolidation, higher expenditure in reinvigorating rural economy; higher expenditure on healthcare, education & skill development; focus on export promotion, employment generation, start-ups, technology and sustainability interventions; improving EoDB & reducing CODB and Stability and continuity in tax policy”, said Dr Pawan Munjal, Vice President CII while reacting to the budget proposals. All of these make a great recipe for high sustained growth.
The budget has multiple proposals for building the future India.
The focus on infrastructure will not only improve the quality of lives and generate jobs but will also help Indian industry become globally competitive.
Sustainability proposals which promote renewables, EVs, clean technologies, clean transport, circular economy will support India towards sustainability transition and enable it to meet its commitments made at COP26.
Digital interventions in multiple areas such as logistics, financial inclusion, ease of doing business and government – business interface, education, healthcare will improve delivery of public goods and also improve the investment climate in the country.
The budget also caters to the needs of the ordinary citizens specially the most vulnerable who were impacted the most by the pandemic, with its emphasis on delivering basic amenities such as affordable housing, drinking water, urban amenities etc.
The budget also supports the MSMEs, through the extension of ECLGS scheme and it also aims to create a more enabling environment for industry at large.
1 February 2022