Chennai: The interim Union Budget is a very well balanced budget aimed at stimulating demand and growth in the economy, CII Southern Region chairman, R Dinesh in a statement issued yesterday.“Measures such as allowing the GST registered SME units to get 2 per cent interest rebate on the incremental loan of Rs 1 crore in addition to increasing the sourcing requirement from the SMEs by Government enterprises to 25 per cent are expected to provide an impetus to the growth prospects of MSME sector,” said Dinesh.
“The Government has outlined an ambitious and aspirational vision for the country in 2030 based on key growth drivers such as infrastructure, social sectors, technology and sustainability which augurs well in sustaining the economic growth,” he added.
Village focus
Dinesh stated that structured income for the farmers and pension for the workers of the unorganized sectors is a major step in achieving inclusive growth. CII Job Creation Sub-Committee chairman, N K Ranganath too said that the government has taken a major step to support agriculture and the rural economy through direct income transfer for farmers.
“Extending the benefits of 2 per cent interest subvention scheme for farmers engaged in fisheries and animal husbandry is a welcome move to boost additional income for farmers,” he added.
CII Tamil Nadu Vice Chairman, S Chandramohan said the budget will help middle-class people and marginal farmers and to this extent can drive consumption and growth.
“Thrust on rural roads, housing etc will help the growth of the economy. The announcement on creating 1 lakh digital villages would provide an impetus for rural development and the pension scheme for the unorganised sector is a huge step towards ensuring inclusive growth,” he added.
CII Southern Region CSR Sub-Committee chairman Ravi Sam said that the interim budget is a people-oriented budget with an aim to boost the economic growth.