November 22, 2024 12:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi bestowed Dominica's highest award at India-CARICOM Summit | 69-year-old Delhi man, a St. Stephen's alumnus, arrested for conning govt officers by posing as ex-IPS | 'Baseless': Adani Group denies US charges of bribery and fraud against Gautam Adani | AAP's first list of candidates for Delhi polls feature six turncoats | PM Modi is incapable to arrest Gautam Adani: Rahul Gandhi after tycoon charged with bribery and fraud in the US
'Budget aptly prioritizes growth; I welcome increased capital spending of Rs 10 lakh cr': Tata Sons Chairman N Chandrasekaran
Budget reaction

'Budget aptly prioritizes growth; I welcome increased capital spending of Rs 10 lakh cr': Tata Sons Chairman N Chandrasekaran

| @indiablooms | 01 Feb 2023, 07:22 pm

Mumbai/IBNS: Tata Sons Chairman N Chandrasekaran has praised the Union Budget for prioritizing growth “given the challenging macro backdrop of slowing global growth and tightened financial conditions.”

“I welcome the move to more productive expenditure, budgeting capital spending of Rs 10 lakh crore—a 33% increase over the previous year and the highest in the past two decades as a share of GDP,” he said.

Chandrasekar said the revision of income tax slabs under the new tax regime should increase purchasing power for many.

“Loan guarantees and other assistance toward MSMEs, a focus on tourism, and measures announced for the care economy (like new nursing colleges) will boost job creation,” he said.

The budget also remains committed to shared prosperity by extending the free food scheme for one more year.

The Tata Sons Chairman said the Budget shows not only the kind of policy support that is necessary for the economy at this moment but also strengthens the strategic foundations for our long-term growth.

“We are witnessing three major transformations globally: rapid digital adoption, the rebalancing of supply chains, and environmental sustainability,” he emphasized.

This Budget helps position India to play a leading role in all three transformations, Chandrasekhar added.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.