Mumbai (Maharashtra) [India], July 23 (ANI): Managing Director of Chalet Hotels Limited, Sanjay Sethi, lauded the Centre for presenting a very inclusive budget focusing on agriculture and micro, small and medium enterprise (MSME) sector.
“No surprises. I think it was pretty much aligned with whatever we were expecting. It is clearly a budget that focuses on inclusivity and, again, a clear eye on creating employment and infra development,” Sethi told ANI.
“…It is a very inclusive budget. I think clearly in the right direction towards growth for the country. I think this will keep the momentum on for the country,” he said.
Replying to a query, he said, “I think from the employee side and the agriculture side, as well as MSME, I think there are some positives that have come out. The focus was on MSME and agriculture and I think that is the right way to go given where we are as a nation. And we see this developing very positively going forward.”
Finance Minister Nirmala Sitharaman allocated Rs 1.52 lakh crore to the agriculture and allied sectors while presenting the Union Budget for the fiscal year 2024-25 in Lok Sabha on Tuesday.
Finance Minister Sitharaman emphasised the importance of research and development in the agriculture sector.
She announced that substantial funding would be provided for R&D initiatives, particularly focusing on the production, storage, and marketing of pulses and oilseeds.
“We will strengthen their production, storage, and marketing,” she stated.This initiative aims to achieve “atmanirbharta” (self-reliance) in oilseeds such as mustard, groundnut, sesame, soybean, and sunflower.”
As announced in the interim budget, a strategy is put in place to achieve “Atmanirbharta” for oil seeds such as mustard, groundnut, sesame, soybean and sunflower,” she said.
In her budget speech, the Finance Minister announced a slew of measures aimed at boosting the micro, small and medium enterprise (MSME) sector, one of the priority areas of the government, to help them grow and also compete globally.
Speaking in Parliament while presenting the Union Budget 2024-25 on Tuesday, Sitharman said the government has provided special attention to MSMEs and labour-intensive manufacturing and formulated a package covering financial and technological support for the sector.
She announced a credit guarantee scheme of Rs 100 crore for MSMEs, building in-house capabilities, and a paradigm shift in the credit assessment model for credit eligibility.
“This budget provides special attention to MSMEs and manufacturing. A separate guarantee fund will provide Rs 100 crore to MSMEs,” Sitharaman said in her budget speech. (ANI)
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