‘Historic, transformational, growth-oriented budget’

CHENNAI: Industry body CII welcomed the historic, transformational and growth-oriented budget, which is aimed at propelling economic growth with thrust on infrastructure development besides greater focus on social sectors including health and education.

Satish Reddy, Chairman, CII Southern Region & Chairman, Dr Reddy’s Laboratories favoured the increase for the outlay in the healthcare sector. The reform concerning asset monetisation and taxation is a welcome move, he said, hoping to see increased momentum specifically in the R&D ecosystem space.

CK Ranganathan Deputy Chairman, CII Southern Region & CMD, CavinKare Pvt Ltd said the investments announced will propel the GDP comfortably to a double-digit with the focus being on infrastructure investment, financial inclusion, health and education. AI-enabled measures in GST that will help plug existing gaps to a large extent he added.

Hari Thiagarajan, Chairman, CII TN Council & ED, Thiagarajar Mills Ltd said the state is receiving a bonanza specific to Infrastructure, Road and Rail Development. He also expected some of the mega textile parks to be set up would be in TN, while welcoming the move towards supporting gig workers with social security.

R Dinesh, Past Chairman, CII Southern Region & JMD, TV Sundram Iyengar & Sons termed the budget to be a “dream.” The overall budget was holistic, he said, as he sought to highlight the impact on supply chain areas including the eastern and western freight corridor and the multimodal approach for reducing logistics cost. The budget has also demonstrated the minimum government and maximum governance both in letter and spirit that will promote competitiveness as part of its focus on a green budget. Ravi Sam, MD, Adwaith Lakshmi Industries commended the setting up of textile parks as they would generate employment and thereby uplift the economy. He also welcomed the allocation provided for SC/ST access to education through setting up of schools. The custom duty can be extended to man-made fibre as well, he sought to highlight.

NK Ranganath, Water Ambassador, Grundfos Pumps India welcomed the focus on investment towards clean water supply and showed how the bio-remediation of dumpsites would prove to have long term benefits.