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Business News

Jul 06, 2019
2:40PM

Industry bodies, economic experts hail Union Budget

@Reuters
The budget 2019-20 has been hailed by the Industry bodies, Economic experts, Union Ministers, Chief Ministers of various states and NRIs.

ASSOCHAM President B K Goenka said the 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.

Talking to reporters in New Delhi, Mr Goenka said, initiatives like e-assessment, inter-changeability of PAN and Aadhaar, and digital payment will make a big difference to taxpayers.

NABARD chairman HK Bhanwala has said, Budget proposal for 'zero budget farming' will help millions of farmers cut down their input cost and practice sustainable agriculture.

Chief Executive of Bombay Stock Exchange, Ashish Kumar Chauhan said the budget provides a blueprint to promote overall growth as it outlines several new reform initiatives.

However, mixed reactions emerged from India Inc. Chairman of the Piramal group, Ajay Piramal said the intent to provide housing for all by 2022 has the potential not just for growth in downstream sectors such as cement and steel but also for overall job creation.

Chairman of Raymond group, Gautam Singhania said the budget has attempted to address the concerns of various stakeholders from agriculture to the social sector, industry, youth and women.

Veteran industrialist Adi Godrej, chairman of the Godrej Group expressed disappointment saying the budget was not growth oriented. Chairman of Mahindra Holidays, Arun Nanda too believed that the budget has failed to address the biggest challenge of job creation.

A number of Non-Resident Indians in the UAE gave a thumbs up to the Budget. 
 

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