|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Industry hails Budget, feels process of doing business further simplified
|
|
Monday, 03 February, 2025, 08 : 00 AM [IST]
|
|
Ashwani Maindola, New Delhi
|
As Nirmala Sitharaman presented her 8th Budget on Saturday, the experts ‘generally’ welcomed the announcements.
The Budget was particularly welcomed for the announcement related to tax exemptions for salaried class, which is expected to boost spending on consumables.
Sanket S, co-founder, Scandalous Foods, said, "We appreciate the government’s progressive Budget, which prioritises ease of doing business, economic growth, and social security. The simplification of tax structures and the increased income tax slab to ?12 lakh reflect a modern approach to redefining the middle class, boosting disposable income and economic participation. The introduction of health provisions for gig economy workers is a crucial step in ensuring long-term stability for India’s evolving workforce.”
Parveen Khandelwal, MP and secretary general, Confederation of All India Traders (CAIT), described the Union Budget as a strong economic document.
“The taxation system has been balanced to facilitate the business sector, with significant provisions to promote the digital economy and the MSME sector. The process of doing business has been further simplified, ensuring direct benefits for traders. Additionally, new employment generation schemes have been introduced. Investments in infrastructure development will boost economic growth, while startup and entrepreneurship incentive schemes will provide a fresh direction to the Indian economy.
The All India Consumer Products Distributors Federation (AICPDF) also welcomed the Union Budget 2025. In a statement, it said that increase in disposable income will lead to higher consumer spending, particularly in essential and discretionary FMCG categories.
“The expected rise in demand will benefit not just retailers but also the entire supply chain, including distributors and manufacturers,” reads the AICPDF statement.
Sanjay Jain, director, Elanpro meanwhile, said, “The recognition of MSMEs as the ‘second engine’ of growth, through enhanced credit availability with guarantee cover, will empower businesses to expand and innovate. Strengthening the MSME and startup ecosystem is crucial for industrial growth, including sectors like commercial refrigeration, which support various industries from food processing to healthcare.”
|
|
|
|
|
|
|
|
|
|