Infrastructure-strengthening budget: FICCI

| | Lucknow
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Infrastructure-strengthening budget: FICCI

Tuesday, 02 February 2021 | PNS | Lucknow


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The Federation of Indian Chamber of Commerce and Industry (FICCI) hailed the Union budget for 2021-22 during a budget discussion organised in the state capital under the joint aegis of the FICCI and Adarsh Vyapar Mandal, a federation of industrial and business organisations.  
In the programme, businessmen, industrialists, chartered accountants and women traders of the capital watched the live telecast of the budget and assessed it in the discussions.
After the budget speech of Finance Minister Nirmala Sitharaman, the officials and members of FICCI responded to the general budget and described it as infrastructure-strengthening for the nation.
FICCI Uttar Pradesh Council Chairman Sharad Jaipuria said the general budget was good for every section of society.
He said, "The specialty of the budget is that even after going through a global crisis like COVID-19, the budget attempts to provide something for all sectors. The budget has taken care of every class, including farmers, middle class, poor and women. It will definitely be helpful in speeding up the economy and financially strengthening every citizen of the country. Provision of Rs 40,000 crore in the rural infrastructure fund is definitely a welcome step. "
FICCI Uttar Pradesh Council Co-chairman Amar Tulsian described the budget as self-reliant and a blueprint for India, saying it was a historic and very progressive budget.
"It will certainly embody the aspirations for Atmanirbhar Bharat.  The budget has given special attention to major issues like revival of the economy and employment generation. The government has focused on increasing investment without any additional burden on the industry and common citizens despite the pressure. The direction of the budget is towards increasing the trust of the common taxpayer.  The government's step in it is a very commendable effort," he said.
Former chairman of FICCI's Uttar Pradesh State Council, LK Jhunjhunwala, while reacting to the budget, said, "The government was facing financial constraints due to COVID-19 yet the way the government budgeted for the development of all sectors, it will have a long-lasting result and impact. The government should have announced the creation of a regulatory body for e-commerce as well; this would certainly give relief to retail traders. Increasing the budget in the health sector was the need of the hour, this step of the government is welcome. "
FICCI Uttar Pradesh Council head Amit Gupta also described the budget as an admiration under pressure.  
He said, "For the last one year, the whole world has been facing the crisis of COVID-19 pandemic and during this time India also faced challenges on every front. The government gave special attention to the health sector and insurance sector with a visionary step. The government has made its commitment to make the vaccine available to all countrymen by providing Rs 35,000 crores for vaccination; this is a very commendable step."
"The proposal to increase FDI in insurance companies from 49 per cent to 74 per cent will help in providing insurance policy to the common citizens at a competitive rate, which is also a welcome step," he added.

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