Union Budget Will Strengthen India’s Economic Muscle, Says FICCI

The Federation of Indian Chambers of Commerce and Industry (FICCI) president Pankaj Patel gave “full marks” to the government for Union Budget 2017-18 that it will strengthen the economic muscle of the country.

“This budget would tremendously strengthen the economic muscle of the country. It is directionally correct, fiscally prudent and strengthens the governance fabric of the nation. FICCI compliments the finance minister on his vision for the economy, which alongside economic growth also ensures economic justice. Growth without inclusion can be a liability for the country.”

“I think the biggest take away from this budget is the reform introduced in the area of political funding. The demonetisation move of the government was an attack on the stock of black money and the measures announced in the budget on electoral funding will help attack the root cause of corruption of India. FICCI had represented to the government for bringing in such measures that will enhance transparency in line with the tenets of good governance. I give full marks to the government for this bold and pragmatic measure,” said Patel.

In pursuance of its objective to double the income of farmers in five years’ time, the government has significantly enhanced the allocations under most of the agri-economy directed schemes and programs including those related to farm credit, crop insurance, soil health, irrigation, market infrastructure, dairy farming.

“All these efforts including the all-time high annual allocation for the reformed MNREGA scheme will not only help improve the income levels in the rural areas of the country but also help generate a swathe of new jobs across vast parts of the nation. This is a clear boost for generating demand on a large scale,” said Patel.

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