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Updated February 4th, 2024 at 12:07 IST

Interim Budget all about building competitive India, says Sanjiv Puri

“This budget is all about building competitive India, it ticks all the boxes,” Sanjiv Puri told Republic Business.

Sanjiv Puri
Sanjiv Puri | Image:X
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Sanjiv Puri on Interim Budget: The interim budget was unveiled by the Finance Minister Nirmala Sitharaman on Thursday and the focus was on capex, fiscal consolidation, and for garnering inclusive growth.  The fine print of the budget shows that the numbers are in line with the street estimates. Shedding light on the Interim Budget 2024, Sanjiv Puri, MD and Chairman of ITC, in an exclusive conversation with Republic Business said that the budget is growth oriented, with a lot of focus on sustainability and inclusive growth.  

“This budget is all about building competitive India, it ticks all the boxes,” Puri told Republic Business.

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According to Puri, enhanced public expenditure in the form of capex, fiscal consolidation, focus on rural and agriculture sector, and the focus on innovation and research and development (R&D), and next generation reforms pertaining to states, are some of the measures that stood out in interim budget. 

Throwing light on quantum of capex, Puri added that CII had suggested 20 per cent of capex growth this time. “But Rs 11 trillion as a capital expenditure is a good move,” he added.

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Commenting on achieving the fiscal deficit targets, he said that the fiscal consolidation targets are much feasible to achieve especially at a time when economy is doing well. Dubbing the Indian economy as an economy with strong foundation, Puri highlighted that the FM Sitharaman is visionary, consistent, and very focussed on execution.
 

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Published February 1st, 2024 at 19:24 IST

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