Chandigarh: In response to the interim budget presented by Smt Nirmala Sitharaman, Minister of Finance and Corporate Affairs, Mr. Chandrajit Banerjee, Director General of CII said interim budget consolidates India’s economic strategy, prioritizing capex-driven growth for enhanced demand and industry competitiveness.
CII had recommended a continued focus on capital expenditure, and the budget allocates Rs 11.1 lakh crores for capex, marking an 11.1% increase over the previous year.
The budget also emphasizes state capex, allocating Rs 1.3 lakh crores as 50-year interest-free loans and Rs 75,000 crores linked to state-level reforms.
Noteworthy initiatives include housing for the middle class, an additional 2 crore houses under PM Awas Yojana (Gramin), and measures to boost the rural economy.
These include post-harvest infrastructure development, a mission for self-sufficiency in oilseeds, dairy development, and promotion of fishing and aquaculture.
The budget aims at inclusive development, providing economic security to vulnerable sections, elevating living standards, and expanding the consumer market.
This consumption-led growth enhances economic resilience amid global uncertainties. India's sustained high growth aligns with its goal of becoming a developed nation by 2047."
