Reacting to the recent Union Budget, CAIT President B.C. Bhartia commended the shift towards a fresh economic perspective, moving away from traditional populist approaches. He emphasized that the Budget aims to strengthen India’s economy as a whole rather than catering to specific sections of society. Bhartia highlighted the Budget’s alignment with Prime Minister Narendra Modi’s vision of enhancing India’s global economic competitiveness.
The CAIT President noted the Budget’s emphasis on youth empowerment, particularly through the “Yuva Shakti” initiative. He also appreciated the focus on promoting Ayurveda, which is expected to benefit rural communities involved in herbal medicine collection and reduce healthcare costs. Bhartia further mentioned the Budget’s provisions for education and healthcare, aiming to lower associated expenses for long-term development.
Additionally, initiatives like “One District, One Product” have been reinforced to boost local production and employment opportunities. The Budget also includes measures for water conservation in villages to maintain the sustainability of ponds and water bodies. Bhartia highlighted the special attention given to empowering rural women and enhancing their economic participation, emphasizing the positive impact on overall economic growth.
Regarding support for retail trade, Bhartia acknowledged the dedicated focus on MSMEs in the Budget. He welcomed the announcement of a Rs 10,000 crore fund to aid MSMEs, addressing the challenge of credit availability for small businesses. Bhartia also mentioned the reduction in interest rates to facilitate smoother business expansion for traders and small entrepreneurs.
