Expressing their views on the Union Budget on Sunday, entrepreneurs of the region welcomed it saying that steps proposed in it are aligned with the vision of Atmanirbhar Bharat and reflective of industry expectations. Most of the entrepreneurs termed it a positive, pro-industry Budget with a strong focus on manufacturing, exports, and ‘Ease of Doing Business’. Prashant Mohota, President of Vidarbha Industries Association (VIA) said that the Government is giving a boost to manufacturing sectors which is a very healthy sign. “Electronics and rare metals have been identified as the key pillars for industrial growth. Similarly, export promotion and procedural simplification are going to prove beneficial for the industry,” he said. Mohota, interacting with the media person soon after the Budget speech, also said that the Government has identified tourism as a major growth sector.

 

“In agriculture, emphasis has been laid on high-quality seeds and high-density plantations to promote high-value crops. Furthermore, the textile sector has been included under the employment-generating category, with announcements of incentives, making the Budget favourable for this sector as well,” he said. At a special Budget analysis event held at Hotel Dwarkamai, office-bearers and members of Nag Vidarbha Chamber of Commerce (NVCC) expressed satisfaction over the proposals. Farooq Akbani, President of NVCC, said that the support scheme for SME and MSMEs and outlay of Rs 10,000 crore for it is going to prove very beneficial for the small and medium size traders across the country.

 

“However, there is some apprehension among the traders with regard to some provision of Income Tax,” he said. Akbani, while welcoming the proposal of setting up a high level committee for banking reforms, said that the Government should also take into consideration small and medium size traders. B C Bhartia, National President of Confederation of all India Traders, highlighted the Budget’s proposals for small and medium size traders.

 

“The Government has initiated measures such as easy access to credit, simplification of compliance procedures, digital empowerment and technological upgradation. It will help the traders and bring in more liquidity in the markets. The domestic markets will flourish due to these steps,” he added. Bhartia further stated that the measures announced in the Budget will play a vital role in employment generation. It will support small industries and traders. In addition to this, Bhartia also noted that the continued focus on infrastructure development, logistics efficiency, manufacturing, exports, digital economy and consumption-led growth will provide widespread benefits to trade and commerce across the country.