Goenka highlighted the ambitious plan for 100 gigawatts of nuclear power over the next 20 plus years, which would require significant investments in power transmission and distribution.
Additionally, the UDAN scheme, which focuses on improving regional connectivity and increasing the number of airports. He also pointed to initiatives like the Jal Jeevan Mission as signs of continued investment in the country’s infrastructure.
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Naina Lal Kidwai, Past President of FICCI, focused on the impact of these investments on job creation and consumption. She highlighted the importance of focusing on labour-intensive sectors, such as footwear, leather, and toys, as well as service sectors like tourism.
These industries are vital not only for providing jobs but also for driving demand and consumption across the economy.
Subhrakant Panda, Past President of FICCI, also praised the Budget, particularly the finance minister’s focus on putting money into people’s hands. The allocation of ₹1 lakh crore would provide a significant boost to consumption and overall economic momentum.
Panda stated the budget’s focus on reforms, noting that a shift from a rules-based approach to a trust-based approach will be key to fostering growth in the future.
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Harsha Vardhan Agarwal, President of FICCI, and MD of Emami welcomed the decision to provide tax relief to individuals with income up to ₹12 lakh under the new tax regime.
He described this move as a major boost for middle-class taxpayers and a positive step for consumption growth. This tax relief had been an expectation of both the industry and FICCI, but the ₹12 lakh threshold came as a pleasant surprise. It will help increase overall spending and contribute to economic growth.