Demand Boosting & Investment Inducing Budget: PHD Chamber

No. PR- 211

February 1, 2021

New Delhi

 

Demand Boosting & Investment Inducing Budget: PHD Chamber

 

Mr Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry has congratulated Mrs Nirmala Sitharaman, Hon’ble Finance Minister for presenting a historic budget and considering the aspirations of all sections of the society for the improvement of standards of living and ease of doing business in industry across the segments, in a press statement issued here today.

 

The focus of budget on six pillars, including Health and Well-Being, Physical and Financial capital and infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and Research & Development, and Minimum Government, and Maximum Governance is highly encouraging and would go a long way to build a New India, said Mr Sanjay Aggarwal.

 

We appreciate the counter cyclical fiscal policy adopted by the Government to rejuvenate the economic growth and development in the country with increased fiscal deficit for the year 2021-22 at 6.8%. We are hopeful that the fiscal consolidation be in line by 2025-26, said Mr Sanjay Aggarwal.

 

The budget very well recognises the significance of improving healthcare sector in current times, as it outlays a total of over Rs 2.33 lakh crore for healthcare sector, said Mr Sanjay Aggarwal.

 

It is highly appreciable that the focus of the budget is to strengthen the vision of Nation First, doubling farmers' income, strong infrastructure, enhancing women's empowerment, promoting healthy India, bring in good governance, education for all, inclusive development of all, said Mr Sanjay Aggarwal.

 

The announcement of Rs 2,83,846 lakh crore for health and wellness sector including Rs 35,000 crore for Covid-19 vaccines is highly inspiring, said Mr Sanjay Aggarwal.

 

The introduction of the Aatmanirbhar Health Yojana with an outlay of Rs 64,180 crore over six years and proposal to setup 15 Health Emergency Centres will go a long way to strengthen the National Centre for Disease Control in the country, said Mr Sanjay Aggarwal.

 

The completion of projects worth Rs 1.1 lakh crore under the National Infrastructure Pipeline and further expansion in the same to 7,400 projects is highly commendable, said Mr Sanjay Aggarwal.

 

Government’s decision to set-up a Development Finance Institution (DFI), capitalised with Rs 20,000 crore to launch the National Asset Monetisation Pipeline to fund new infra projects is highly appreciable and is in line with the suggestions of PHD Chamber. This will help increase the funds for infrastructural investment in the country and will in turn provide a multiplier effect to boost demand and rejuvenate overall economic growth trajectory, said Mr Sanjay Aggarwal.

 

It is appreciable that the Indian Railways has prepared a national railways plan by 2030, with the aim to bring down the logistics cost. This is crucial to bring down the cost of doing business in the country, said Mr Sanjay Aggarwal.

 

The outlay of Rs 1.18 lakh crore for Ministry Of Road Transport And Highways will help enhance the connectivity in the country as well as increase employment opportunities for the growing young workforce, said Mr Sanjay Aggarwal.

 

We look forward to a strong growth trajectory with continuous focus on the reforms, said Mr Sanjay Aggarwal.

Ends

Media Division

PHD Chamber of Commerce and Industry