Union budget has focused on aspirations, economic development: CII Goa
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Union budget has focused on aspirations, economic development: CII Goa

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Panaji, Feb 1 : Confederation of Indian Industries (CII) in Goa on Saturday welcomed that union budget present by Finance Minister Nirmala Sitharaman saying it had focused on aspirations, economic development and caring society.

In a statement, CII Goa State Council Chairman Lalit Saraswat said,“Given the current economic scenario, the Hon’ble Finance Minister has presented the best budget focusing on aspirations, economic development and caring society. Steps to revive the economy will help attain the targeted growth rate for the next year.'' He said the budget had laid significant focus on Artificial Intelligence (AI) which would drive out corruption as there would be more clarity with digitization.

Focusing on Goa, infra spending on cold storage, logistics and other areas would help the fisheries sector of the state, he said, adding encouraging Farmer Producer Organisations for Fisheries was also a welcome step for the state.

Better disposable income due to lower personal income tax would help consumption and tourism in the state, he said and hoped that 100 more airports under the UDAN scheme would help in better regional connectivity and development. ''Pan India investment clearance cell may be the single window that entrepreneurs hoped for.

Simplification of tax slabs and rates will leave disposable income in the hands of the taxpayer. Change in ESOPs will help start-ups in attracting top talent and thus be a great growth driver of the future. Development of India as a world class higher education destination will have a huge long-term impact on the nation both in terms of net revenue and in terms of global talent,'' he said. ''Price stabilization fund will reduce retail inflation. Make in India and jobs boost with tweaks in custom duty,” he added. (UNI)

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