|
|
|
'Budget promotes small scale industries, automobiles, textiles'
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 02 Feb, 2021
After the presentation of the Union Budget in Parliament on Monday,
economic experts in Gurugram said it is a very balanced and
development-oriented Budget.
They said that this Budget will
strengthen the economy of the country which has been derailed due to the
Covid-19 pandemic. It will also give a boost to small industries and
start-ups, along with the automobile and textile sectors.
The
experts said that the most important thing is that through this Budget,
the government has made a concerted effort to take the country on the
path of progress, while not trying to please any particular region or
class.
On the other hand, the people associated with the industry said that the Budget as a whole is quite impressive.
"This
budget is a balanced budget. It is promoting small industries,
start-ups, automobile and textile sectors. Through this budget, the
central government may not have made any concrete provision for
industries directly, but indirectly this budget will encourage
industrial expansion, development and investment much easier. The
government should reduce the rate of GST," said J.N. Mangla, President,
Gurugram Industrial Association.
People associated with the
corporate sector said that this budget is better. Amid the pandemic,
there cannot be a better budget than this. This is a time when the
government is also short of funds. Reducing corporate tax is a good
decision.
"The kind of attention given to the health sector in
the budget is commendable and futuristic. The lesson from the Covid-19
pandemic is that our health services should be better. The government
took this message and increased the health sector budget by 137 per
cent, which is a record in the country's budgetary history. Soon the
government is also going to establish a revenue portal for corona
vaccine as the vaccine is being exported to other countries which will
help to boost the economy of our country," said Dr Swati Maheswari, a
health expert.
FDI in the insurance sector has been increased
from 49 to 74 per cent. This will increase employment prospects. Special
attention has also been paid to the education sector and creation of
employment for youth and their skill development.
"This is a
commendable budget as this will speed up the pace of development in the
country. The provisions made in this regard for infrastructure
development are welcome. Through this budget, the weakness of the health
sector will be removed and the dream of a healthy India will be
realised. This budget will also reduce the dependency on China.
Arrangements have been made in this budget to make the agriculture
sector dynamic. The steps taken to promote quality of life will benefit
people," she said.
Economic expert Amandeep Negi said Covid-19
brought in a crisis and this budget will prove to be balanced as well as
boost growth. There is one thing that is not good for the textile
industry which is the increase in import duty on cotton fibre by five
per cent. This will increase the cost of production. The government
should consider it again.
"There is a lot in the budget for
health, education, agriculture, industry, transport and infrastructural
development. The scope of income tax exemption was expected to increase
but nothing happened. Anyway, the government is short of funds at this
time," said Anil Lamba, a financial affairs expert.
"The Budget
is according to the expectations of the common people. It has everything
for the poor, farmers, elderly, women and industrialists. The Finance
Minister has allocated additional funds for agriculture, health,
infrastructure, roads, railways etc. So overall it is a balanced
budget," said local BJP MLA Sudhir Singla.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|