The Confederation of Indian Industry (CII) has lauded the Union Budget 2024-25 as a growth-oriented and inclusive budget. Addressing key sectors such as MSMEs, agriculture, infrastructure, skills, technology, and ease of doing business, the budget has been praised for its comprehensive approach to fostering economic resilience and growth.

CII has particularly highlighted the budget's focus on MSMEs, which are critical to India's economic framework. The initiatives for MSMEs are expected to drive innovation, job creation, and sustainable growth, reinforcing the backbone of the economy.

The industry body has also commended the government for its plans for the holistic development of states like Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. The four expressway and bridge projects, with a combined worth of ₹26,000 crores for Bihar, are seen as crucial investments that will spur regional growth. Additionally, the budget's emphasis on tourism, including the development of the Vishwanath and Mahabodhi temples in Gaya and the rejuvenation of Nalanda as a tourist destination, is expected to significantly boost the sector.

The abolition of the Angel Tax and the rationalization of taxation for charitable organizations, TDS, reassessment and search cases, and the capital gains tax regime were welcomed by CII. The three schemes under the Prime Minister’s package, focusing on employment-linked incentives through EPFO enrollment, are anticipated to benefit first-time employees and support employers.

CII has also expressed appreciation for the budget's provision for reconstruction and rehabilitation support to states affected by extreme weather events. The launch of the Critical Minerals Mission, aimed at enhancing domestic production and recycling of critical minerals, has been another noteworthy highlight.

In a significant move for youth employment, the budget introduces a new initiative to provide internship opportunities for 1 crore youth over the next five years in 500 leading companies, enhancing skill development and employability in the manufacturing sector.

S.K. Behera, Chairman of CII Eastern Region and Vice Chairman and MD of RSB Transmission Pvt Ltd, praised the government's Purvodaya initiative, which focuses on the all-round development of eastern states. He also acknowledged the budget's emphasis on tourism development in the eastern region's heritage sites and appreciated the allocation of ₹1.48 lakh crore for education, employment, and skill development, which aims to elevate opportunities for the youth and improve workforce capabilities.

Behera highlighted the budget's focus on four major areas: the poor ('Garib'), women ('Mahilayen'), youth ('Yuva'), and farmers ('Annadata'). The provision of ₹2.66 lakh crore for rural development, including rural infrastructure, is expected to have a multiplier effect on the economy, fostering inclusive growth and development across the country.