The Union Budget is “all encompassing”and looks to brings about reforms in almost all sectors of the economy, according to Rakesh Shah, President, Bharat Chamber of Commerce .
“The Budget has laid major emphasis on social, agriculture and rural sectors,” he said.
The allocation on infrastructure development is likely to generate demand stimulus for various industries and create rural employment.
Opening up of the processed food segment for FDI to the tune of 100 per cent will boost agricultural production, Shah said.
According to the President, the interest subvention scheme for the housing sector is also a welcome move.
However, the Budget, he felt, missed out on the opportunity “to consolidate growth of real estate by declaring it as industry”.