Harshavardhan Neotia Chairman, Ambuja Neotia, Past President. FICCI on the Union Budget

It is a well-rounded holistic budget. Against the backdrop of the pandemic, the Hon’ble Finance Minister has met the challenge face-on with a budget that addresses the immediate needs of the country and lays out a long-term vision for India @100. The emphasis on ‘PM Gati Shakti Plan’ with an increase in capital expenditure will boost investment in infrastructure and have a multiplier effect on the economy.

While the extension of the ECLGS to March 2023 and expansion of the guarantee cover will benefit the hospitality sector crippled by the pandemic, government’s focus on infrastructure coupled with allocation of Rs 48,000 crore for PMAY will drive real estate growth. The introduction of Digital Rupee using blockchain technology sends a strong message that India is at the forefront of technology adoption.