Budget growth-oriented, fine balancing act, says India Inc

New Delhi, February 1

The Budget is growth-oriented and exudes a fine balancing act with an increase in capital expenditure while maintaining fiscal discipline, industry said today.

Corporate leaders and industry bodies described the Budget as business-like and devoid of any populism, with an emphasis on improving the ease of doing business and reviving economic growth by catalysing demand and investments.

“The Budget scores high on several counts — consistency, capex-led growth, transparency in numbers and continues the focus on simplifying the taxation policy,” said FICCI president Sanjiv Mehta.

CII Director-General Chandrajit Banerjee welcomed the commitment shown towards boosting investments, creating jobs and maintaining tax stability. CII Northern Region Chairman Abhimanyu Munjal appreciated the balancing done to soothe the economy as well as boost it.

Bhavdeep Sardana, Chairman of CII Punjab, felt the setting up of finance startups in agriculture and rural enterprises for the farm produce value chain will provide a much-needed boost to the agri startups and food processing industry.

Stage set for rapid progress post-pandemic

I congratulate FM @nsitharaman Ji for a growth-oriented and forward-looking #Budget for the masses. It sets the stage for rapid progress post-pandemic — Anil Agarwal, chairman, Vedanta group

Brevity has always been a virtue. @nsitha raman’s shortest Budget address may prove to be the most impactful — Anand Mahindra, chairman, M&M group

The 35% hike in capital expenditure will drive infra and jobs — positive rhetoric with no negative surprises — balanced Budget — Kiran Mazumdar-Shaw, Biocon chief

Industry hails the govt’s commit-ment towards boosting investments, creating jobs and improving ease of doing business — Chandrajit Banerjee, DG, CII