Kolkata, February 01 Congratulating the Finance Minister for once again presenting a visionary, futuristic and growth oriented Budget, which is aligned to the Prime Minister’s vision of building a competitive and resilient India, Sanjiv Puri, Chairman, ITC said, the path-breaking measures address key issues of livelihood generation, enhancing farmer incomes and building climate resilience.

“The substantive enhancement of public expenditure will create a multiplier impact on growth and competitiveness. The multi-dimensional interventions to usher in next generation agriculture through digitalisation, R&D, leveraging strengths of agri-techs and FPOs, will transform the agri sector,” he said.

Aditya V. Agarwal, Director, Emami Group
Aditya V Agarwal, Director, Emami Group

Aditya V Agarwal, Director, Emami Group

According to Aditya V. Agarwal, Director, Emami Group, it is a balanced budget boosting overall growth with focus on development of manufacturing, infrastructure and agri-economy. The budget focusses on self-reliance and protection of domestic manufacturers through change in custom and import duties. It is in prefect line with the long term goal of Atmanirbhar Bharat. 

“However, we would expect the government to reinstate the import duty difference between refined palm oil and crude palm oil back to 11 per cent from the current 5.5 per cent to keep the domestic industry viable. Further, in the time of sustainable and re-cycled products, imposing import duty on waste paper needs review,” he said.

Abhijit Roy, MD, Berger Paints
Abhijit Roy, MD and CEO, Berger Paints

Abhijit Roy, MD and CEO, Berger Paints | Photo Credit: Jaishankar P@Chennai

According to Abhijit Roy, MD, Berger Paints, lot of emphasis was placed on capital expenditure which augurs well for the growth of the economy and job creation especially in the medium to long terms.

The focus on green, environment friendly, sustainable as well as digital technologies is also to be appreciated.

“All of these fit in well with our strengths in protective coatings where we are the market leader and in our top end international technology based ETICS business which is capable of energy saving by 30 per cent delivering savings for consumers and reduction in energy consumption,” he said.

Keshav Bhajanka, Executive Director, CenturyPly 

According to Keshav Bhajanka, Executive Director, CenturyPly, Union budget 2022 has been a remarkable one in its effort to give boost for infrastructural development The increase in capital expenditure by 35 per cent i.e., ₹7.5 lakh crore is going to give tremendous impetus not only to the infrastructure sector, but also to overall real estate, steel, cement and others.

The investment in Pradhan Mantri Aawas Yojna where our government aims to create 8 million new homes at a capital expenditure of 48,000 crore will ensure sustained thrust on the housing sector.

Focus on logistics will further be developed through investment in PM Gati Shakti Yojna with the promise to build 25,000 km of road infrastructure in the current year. Beneficial steps have been taken for the corporate sector as well such as an increase in the time period to establish a new manufacturing unit for availing the 15 per cent lower tax rate from March’23 - March’24.

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