Industry representatives in Ahmedabad lauded the Union Budget for its balanced and inclusive approach, foreseeing long-term economic growth. The budget presentation highlighted fiscal discipline, public health, agriculture, manufacturing, and ease of doing business. Nirag Choksi, Co-Convenor of the Manufacturing Panel at CII, expressed optimism, citing the positive impact on various sectors and the country’s overall progress.
Manufacturing leaders commended the government’s focus on fiscal stability and public healthcare initiatives. Choksi specifically mentioned the reduction in the fiscal deficit and the budget’s support for public health, including schemes for disabilities and mental health. He also welcomed allocations for institutions like NIMHANS and initiatives promoting holistic healthcare practices.
The budget’s emphasis on agriculture, especially incentivizing new crops and supporting coconut growers in Andhra Pradesh, was noted. Choksi highlighted measures to boost export-oriented crops like saffron and sandalwood. He also appreciated the proposals to strengthen Ayurvedic institutions and traditional medicine systems, leveraging India’s indigenous strengths.
Regarding manufacturing, Choksi highlighted the sector’s growth trajectory and the government’s targeted interventions in defense, aerospace, railways, and infrastructure. He praised initiatives supporting development in tier-II and tier-III cities, skill institutes, ports, and aerospace facilities, which would enhance the industrial ecosystem. Jayanth Murthy, Co-Convenor of the Manufacturing Panel, emphasized the budget’s focus on simplifying business procedures and taxation to facilitate ease of doing business.
Industry participants welcomed the budget’s measures to simplify compliance, encourage investment, and maintain fiscal discipline. These efforts align with ongoing reforms aimed at sustaining growth and enhancing India’s competitiveness.
