Budget 2024: Gopichand Hinduja Compliments FM Nirmala Sitharaman For ‘Viksit Bharat’ Roadmap

The much-awaited Interim Budget 2024 speech by finance minister Nirmala Sitharaman has been met by positive response by commoners and businessmen alike.?

Even though the full union budget for the next fiscal 2024-25 will be presented after the general election, Sitharaman provided a glimpse of the government's road map for the next year. She also gave a sneak peak into PM Narendra Modi’s vision for Viksit Bharat (developed India).

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"Our government is working towards all-round development, and it's all-inclusive. It covers all castes and people at all levels. We are working towards making India a Viksit Bharat by 2047," said Sitharaman in Parliament.?

"Vision for 'Viksit Bharat' is that of prosperous Bharat in harmony with nature, modern infrastructure, and providing opportunities for all citizens and regions.Important priority for our government is to help MSME grow and compete; This will be part of Viksit Bharat roadmap," she said.

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Reacting to the 56-minute budget speech, Mr. Gopichand P. Hinduja, Chairman, the Hinduja Group said,?

?A Runway for the Vikasit Bharat Flight to take off

“Interim Budget is both a time for reflection and visioning for the future while managing adroitly the present. Compliments to FM Nirmala Sitharaman for effectively achieving this. She articulated the achievements of the past decade and spelt out the broad roadmap to 2047 while maintaining the path of fiscal rectitude with fiscal deficit targeted at 5.1% in FY 25 and down to 4.5% in FY 26.

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“The interim budget commendably shunned any populist measures so often resorted to by the governments. But Bharat could certainly do more on its infrastructure CAPEX budgeting which increased nominally by 11%. Some bold measures are needed to increase the annual FDI level of 60bn $ further. The banking and power sector reforms coupled with further impetus on digital infrastructure are imperatives to Vikasit Bharat with improved sovereign rating. Overall, stability and continuity with judicious acceleration are the wheels deployed through this interim budget for taking off this flight. Now, it’s over to July 2024,” he further added.?