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  Business   Economy  01 Feb 2022  Budget will fast track economic recovery: ICC

Budget will fast track economic recovery: ICC

THE ASIAN AGE. | RAJIB CHOWDHURI
Published : Feb 1, 2022, 4:47 pm IST
Updated : Feb 1, 2022, 4:47 pm IST

The Indian Chamber of Commerce (ICC) has appreciated the growth oriented policy direction of the Union Budget

ICC vice president and Nafa Capital Advisors Pvt. Ltd MD Ameya Prabhu
 ICC vice president and Nafa Capital Advisors Pvt. Ltd MD Ameya Prabhu

Kolkata: The Indian Chamber of Commerce (ICC) has appreciated the growth oriented policy direction of the Union Budget based on EoDB, reforms, clear direction based on digital transformation.

ICC president and Sureka Group managing director Pradeep Sureka said, "It is an extremely growth-centric budget which every industry needed due to the pandemic and fast recovery of their respective businesses. It was a huge challenge for the Central government as well owing to the dip of the Indian economy and how to take it to the path of most awaited 'V' shape recovery but the government has thoughtfully curated the same focusing almost on every sector ranging from agriculture to employment to sustainable organisations and most importantly e-commerce and digital banking."

He added, "One lakh crore interest free loan has been approved to the State Governments which will boost the PM Gati Shakti projects and create employment opportunities. We believe it a balanced budget with something or the other for every sector."

ICC vice president and Nafa Capital Advisors Pvt. Ltd MD Ameya Prabhu said, " The overall progressive budget has made an unexpected yet positive view on digital currency at a time when Crypto was to be banned yet a few months ago and it has come as a relief to many. Though there is a fiscal deficit of 6.9% still the government has given a huge push to the infrastructure and logistics industry as large and apart from personal tax payers on many aspects corporate tax payers are going to be benefitted in the long term too."

Tags: indian chamber of commerce (icc), budget 2022, union budget 2022
Location: India, West Bengal, Calcutta [Kolkata]