CII hails Budget as transformative

Solan, February 1

The Confederation of Indian Industry (CII) today hailed the Interim Budget as transformative, especially for northern states. Gagan Kapoor, chairman of the CII Himachal Pradesh, said, “The emphasis on agriculture, tourism and research and innovation presents significant advantages that are poised to bring about a transformative change in the economy, especially for northern states.”

Kapoor said, “Additionally, initiatives such as providing long-term interest-free loans to states for the development of the tourism sector are expected to create employment opportunities.”

Vision of making nation developed

Since it was an Interim Budget, the industry did not expect any new initiatives. However, it did come out with the government’s vision for putting India on the path to become a developed country by 2047. —Dr Rajesh Gupta, President, Himachal drug manufacturers association

Rajeev Aggarwal, president of the Baddi, Barotiwala, Nalagarh Industries Association, said that there had been no respite for the industry as there was no change in the Goods and Services Tax (GST) or income tax slabs. With little disposable income at hand, there was a little chance of the demand picking up, which would not augur well for the industry, especially the consumer goods sector.

“A welcome step for the pharma Industry is opening of more medical colleges that will bring much-needed doctors and physicians in the healthcare system. This will be a huge growth driver in the long term for the pharma Industry. The cervical cancer vaccination programme will be a great step in eradicating the deadly ailment,” said Sanjay Sharma, spokesperson for the Himachal Drug Manufacturers Association.