Budget will keep India on the growth path: India Inc.

India Inc. has hailed the Union Budget 2023-2024 presented by Finance Minister Nirmala Sitharaman, while Industry body FICCI termed it as balanced and progressive, which gives primacy to inclusive growth.

Hinduja Group Co-Chairman Gopichand P. Hinduja said that when “India is the lone shining star in the world facing threats of recession”, the Finance Minister has delivered a perfect growth-oriented budget with massive capital investment outlays at 4.5 per cent of GDP while staying on track with the fiscal deficit reduction plan.

Hinduja lauded the holistic, sustainable and inclusive approach taken covering every element of infrastructure and capability building and making the best use of the world-class digital public infrastructure “.

Tata Capital Ltd. MD & CEO Rajiv Sabharwal said that the Budget includes several measures for inclusive socio-economic development, its 7 priorities plus a greater sector in the financial sector and infrastructure and investment are steps in the right direction.

FICCI president, Subhrankar Panda said, “The announcements made today capture the pulse of the economy while retaining credibility both in terms of projections as well as committing to the fiscal consolidation glide path. Most importantly, a historic outlay for public capex is a continuation of the heaving lifting since the time of the pandemic and will have a multiplier effect across myriad sectors of the economy besides crowding in private investment”.

The Union Budget reflects a nimble-footed and agile approach to keep India on the growth path, he said.