By Our Staff Reporter
Dehradun, 1 Feb: “The Interim Union Budget 2024 lays down the long-term vision for India, focusing on infrastructure, youth, agriculture, women, amongst others,” said Bipen Gupta, Chairman, CII Uttarakhand State Council, and Director, GB Springs Pvt Ltd, today.
“The Government has shown commendable commitment towards fiscal prudence and consolidation, while keeping the fiscal deficit to 5.8% of GDP for 2023-24, which has been in line with CII Budget recommendations. At CII, we believe that despite being a Vote on Account Budget, this budget scores well on many fronts including its focus on developing infrastructure, meeting green goals, etc., and lays down a strong foundation for a ‘Viksit Bharat’ by 2047,” he added.
The continued thrust on capital expenditure with the proposal to spend a record Rs 11.11 trillion on infrastructure creation in 2024-25, as highlighted in the budget, is expected to pave the way to boosting overall economic productivity, crowd in private investment, and drive growth through a multiplier effect. Measures such as implementation of railway corridor programmes under PM Gati Shakti, promotion of foreign investment via bilateral investment treaties, expansion of existing airports and comprehensive development of new airports under UDAN scheme, promotion of urban transformation via Metro rail, etc., are steps in the right direction, stated Kanishk Jain, Vice Chairman, CII Uttarakhand State Council, and Executive Director, Akums Drugs and Pharmaceuticals Ltd.
