Thrust on infrastructure will boost growth, generate jobs: US chamber of commerce on India s budget
The finance minister has done a remarkable job in presenting a growth-focussed budget during the unprecedented COVID-19 pandemic-hit circumstances, president of the USA India Chamber of Commerce Karun Rishi said, adding that the budget is transparent and has rationalised the off-balance-sheet borrowings and headlined fiscal deficit numbers. PTI
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A Boston-based India-centric chamber of commerce on Monday said the increase in healthcare outlay in the latest annual budget will lead India towards a healthier country and the thrust on infrastructure will boost growth and generate jobs.
Over 50 stocks, excluding PSU banks, can benefit from the Budget announcements
Healthcare, insurance, banking & financials, textile, auto, oil & gas and agriculture among other sectors also seen included in the growth-oriented budget. Sunil Shankar Matkar
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The Union Budget 2021 presented by the Finance Minister Nirmala Sitharaman is really a big game changer in terms of economic revival in India, especially post the COVID-19 damage, experts feel.
The government has estimated fiscal deficit at 6.8 percent of GDP in FY22 and 9.5 percent in FY21. The Budget increased the capital expenditure by 35 percent for FY22 over FY21 to revive the economy, and largely focussed on infrastructure (including roads, railways, National Infrastructure Pipeline, ports, power etc).
Talking about the first pillar, health and well-being, Finance Minister Nirmala Sitharaman said the investment on health infrastructure in the Union Budget 2021-22 has been increased substantially.
The Finance Minister said the warehousing development and regulatory authority will be strengthened to set up a commodity market ecosystem arrangement including vaulting, assaying and logistics.