Union budget to promote inclusive growth Industry players

PTI Updated: July 23, 2024 17:31 IST
the-week-pti-wire-updates

Kolkata, Jul 23 (PTI) The Union budget, presented by Finance Minister Nirmala Sitharaman on Tuesday, will promote inclusive growth and provide resilience in the economy, industry players said.
    Emami Group director Aditya V Agarwal said the budget is holistic, offering a level-playing ground for many strata of society.
    Both direct tax relaxation under the new regime and the reform initiatives are directed towards sustainable growth and empowerment, he said.
    Bharat Chamber of Commerce president N G Khaitan said the budget is comprehensive and has a feel-good factor for all sections of the population.
    It underscores the government's commitment to address the problems faced by the youth through education, skilling and manufacturing in the MSME sector, he said.
    MSME Development Forum-West Bengal president Mamta Binani said the industries are optimistic about the government's initiatives which are aimed at empowering youth, boosting agricultural productivity and enhancing women's participation in the workforce.
    "The budget highlights a strong commitment to inclusive growth and resilience," she said.
    Industry body Assocham's MSME Council East chairman Akhilesh Jain said the budgetary announcement of a credit guarantee scheme for cover up to Rs 100 crore term loans extended to micro, small and medium enterprises would help the growth of the sector.
    Jain also said the announcement to set up export hubs in a public-private partnership model to empower MSMEs and traditional artisans to showcase their products in international markets is a welcome move.
    Teamlease Degree Apprenticeship CEO Ramesh Alluri Reddy said the renewed thrust on job creation is commendable.
    The budget has given significant stress on skill development programmes and incentivised industries to adopt comprehensive apprenticeships, which will lay the foundation of a future-ready workforce, he added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)