Pune industrialists described the union budget as balanced and growth-oriented

The MCCIA had organised a budget viewing session for its members at its headquarters on SB road
Businessmen from Pune watch the budget session screened at Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) on Friday.(Sanket Wankhade/HT PHOTO)
Businessmen from Pune watch the budget session screened at Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) on Friday.(Sanket Wankhade/HT PHOTO)
Updated on Feb 02, 2019 04:42 PM IST
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Hindustan Times, Pune | ByHT Corresopndent

City industrialists reacted positively to the Union budget presented on Friday and described it as a balanced, growth-oriented one with a very strong focus on the social agenda.

Pradeep Bhargava, president, Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA), said, “The budget presented by the government of India has to be welcomed indeed with a very strong focus on the social agenda. Besides, the growth rate which the government achieved in the sectors of highways and waterways among others is commendable.”

“Every budget is more like a balance sheet of the company, and this budget by the Modi government is certainly impressive,” he added.

Talking about income tax concessions for salaried individuals, Bhargava urged the corporate fraternity to look at this budget in a more holistic way.

The MCCIA had organised a budget viewing session for its members at its headquarters on SB Road. City industrialists from the SME sector were happy with the measures announced to promote investments in agriculture, small and medium industries, and health sectors among others.

Chandrashekhar Chitale, a renowned chartered account of the city said, “While we have earlier seen pro-farmer budgets, this budget largely focused on middle-class taxpayers along with the labour class. This budget certainly has populist measures, however, it will benefit the citizens eventually.”

According to Chitale, the government’s efforts of digitising the filling of income tax returns is one of the few elements which will prove to be instrumental in reducing corruption.

Prashant Girbane Director General, MCCIA highlighted the possible reduction of the leakage of funds with the government’s initiative of direct benefit transfer to the farmers.

He said, “The direct benefit transfer scheme used for giving allocated funds to the farmers is a huge step by the government, thus bringing in transparency and reducing the leakage of funds.”

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Saturday, November 27, 2021