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The Budget has focused on India's economic revival and growth in the post-Covid world, says Varun Berry, Managing Director, Britannia Industries Ltd.
According to him, the increased Government spending on health infrastructure, incentives for new industries, innovation and R& D, education, and improved governance “should help generate employment, ensure inclusive growth”, create capital formation and provide Indians, much-needed scale-up in overall infrastructure.
A keen focus is seen on improving rail, road, and power distribution infrastructure is a pro-industry move. The development of 8,500 km of highways by March’22 will make the Indian industry more competitive, he adds.
PLI scheme
The PLI scheme has the potential to create “global manufacturing champions across 13 sectors.”
“The significantly large outlay on health infrastructure is the need of the hour, as healthier, well-nourished people are foundational to a robust economy,” Berry said.
He welcomed the fact that there were no changes in direct taxes, capital gains taxes or STT. The absence of any form of Covid tax are remarkable steps in improving consumer sentiments.
“All in all, the Budget bodes well for consumption and revival of the economy to build a resilient Bharat,” he added.
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