Terming the General Budget for 2018-19 as progressive and growth oriented, traders on Thursday said it demonstrates the intent of the Government to boost investments in education, health care and social sectors. The measures taken by the Government will have long term positive impact, they said.
Chairman of Apex Chamber of Commerce and Industry of Delhi (East Delhi) Sanjay Gaur termed it a balanced and progressive budget but added that Government should have announced some immediate relief for Delhi businessmen.
“Basically, the Budget aims to boost infrastructure in rural areas. It will also create huge employment. The allocation for food processing industry is doubled to Rs 1,400 crore that will be definitely very encouraging,” said Gaur.
Parparganj Entrepreneurs' Association general secretary SK Maheshwari said he was disappointed as small scale sectors were left out from the Budget purview.
“The Make in India is an ambitious scheme of the Prime Minister but still the sector is ignored. This sector provides more jobs after agriculture sector so it should have prioritised,” he said.
Boosting investments in rural development, education, health care, tourism, food processing industries and social sectors will have long lasting impact in creating jobs and well beings, said Puneet Garg, owner of Garg sales Corporation at New lajpat Rai market. The Budget proposal will lead to continued and inclusive economic growth said Garg, adding, “The Budget also emphasises on the rural economy, education, agriculture, infrastructure, health and social security among others. There are slew of measures in the budget to kick-start the investment activity in the economy, creation of demand in the rural economy.”
Dhiraj Mittal, a trader at Chandni Chowk, said the strong push for infrastructure development in the Budget will also boost the Modi Government's growth agenda. “The Government's focus on supporting local manufacturing, investing in rural economy with high emphasis on job creation will lead to greater opportunities for the youth of the country,” he said.
“The Budget has also underlined by the continued push for using technology to aid a digital economy. As India strengthens its position on the global map, skilling the youth of this country is crucial. Also, proposed changes in customs duty to promote creation of more jobs in the country and to incentivise 'Make in India' in sectors such as food processing, electronics and furniture is remarkable,” he said.