Nalco CMD Dr Tapan Kumar Chand said that the Union Budget presented in the Parliament on Friday would “set the path for a New India”.
It is an investment-oriented budget with a strong focus on scaling up infrastructure projects, big push for the MSMEs as it has the potential to bump the economy and create more jobs, incentives like easing Angel Tax and a 2%-interest subvention for the startup sector will help foster innovation and prove to be a boon in the long run, renewed focus on Digital India and change in Customs Duty to promote Make in India are positives, Dr Chand said.
Affordable housing loans would spur the real estate sector. At the same time, it also has sufficient measures to boost the rural economy and the farmer community. 100 new clusters for 50000 artisans in FY 20 would help promote native skills. The budget aims to fine tune macro-economic while fuelling growth, he stated.
“A new Ministry, Jal Shakti, to address all water issues is a welcome move when many places of India are running out of water,” Dr Chand opined.