CII Telangana Chairman Vagish Dixit on Union Budget 2023-24

CII welcomes the budget for new India which addresses the growth imperatives without compromising on the fiscal prudence path. Through a slew of measures in forward-looking areas encompassing green growth, digital infra, urban rejuvenation among others, we are happy to note that the budget lays the roadmap for preparing India for the Amrit Kaal, the next 25 years upto India@100, said Mr Sanjiv Bajaj, President, CII, while reacting to the budget proposals, today.
 
It is encouraging to note that the budget has made a bold attempt to invigorate the critical demand drivers of consumption and investment. The move to rationalise personal income tax rates will go a long way in increasing disposable incomes, thus giving consumption a leg-up which will in turn have a salutary impact on India Inc’s investments. The sharp 33% rise in capital spending budgeted for 2023-24 is in line with CII’s suggestion and lends credence to government’s vision of improving the economy’s growth potential through a push to overall productivity of the economy and creation of jobs, Mr Bajaj highlighted.
 
It is a promising budget by Hon’ble Finance Minister of India to take forward India’s growth story & development goals, reinstating confidence post the pandemic, empowering multiple engines of sustainability , inclusiveness , equal opportunities given to education , Skilling , infrastructure , Innovation , R&D , tourism , green technologies , agriculture , healthcare , digital technologies amongst many preparing India to be Global Economic Leader in 2047.  A healthy balance of strong fundamentals for the future for India to raise, perform & deliver - domestically & globally said Ms Suchitra Ella, Chairperson, CII Southern Region & Co Founder and Managing Director, Bharat Biotech Ltd
 
Applauding the Union Budget, Mr Vagish Dixit, Chairman, CII Telangana said, that the budget strongly focuses on Sustainability and strengthening green initiatives which is a welcome as we are aiming at becoming net zero by 2070 such prioritization is very important. As India is moving towards becoming one of the largest economies in next 10 years, strong emphasis on Infrastructure with an allocation of Rs. 10 Lakh crore is a good one. As we await for more details, he mentioned that hopefully our Telangana state could benefit from this strong focus. He also appreciated the union minister for accepting many recommendations submitted by CII. He also mentioned that giving utmost importance to digitalization in every area of functioning including in agriculture is much needed. Allowing  ICMR labs for R&D by Private Sector will strengthen the Public & Private sector collaboration and is a much-needed reform.
 
Mr. C Shekar Reddy, Vice Chairman, CII Telangana appreciated the efforts of Union Government and opined that Significant amount of thrust has been given to Digital ecosystem for skilling and livelihoods is expected to bring more transparency and improvise the system.  Provisions for startups, will boost the country’s economic growth. Personal income tax rebate is a much needed and a good relief for the common person. Urban Infra fund will give a fillip to the infra sector and strong focus on Sustainability is highly appreciated as CII being one of the pioneers in promoting and strengthening Green buildings movement and encouraging sustainability initiatives by the Industry through its Centres of Excellence.