Sanjiv Goenka hails budget’s focus on agriculture, employment, and eastern region

Union Budget 2024: In a spirited reaction to the Union Budget 2024 at Republic TV, Sanjiv Goenka, Chairman of RPSG Group, expressed optimism over the government's comprehensive approach to economic growth and development. 

Highlighting several key areas, Goenka commended the focus on agriculture, employment, and skills development, as well as the push for the eastern region's growth.

Goenka remarked on the government's commitment to a 'Viksit Bharat' (Developed India) by 2047, pointing out the budget's emphasis on transforming underdeveloped regions. "The focus on the eastern region signifies a genuine effort to stimulate growth in the less developed parts of the economy," he stated. 

He also underlined the importance of support for Micro, Small, and Medium Enterprises (MSMEs), alongside the simplification of direct taxes. "These measures are critical for fostering a more business-friendly environment and encouraging entrepreneurship," Goenka noted.

The Union Budget's focus on empowering youth and women through the 'Yuva and Nari Shakti' initiatives was highlighted as a positive step towards inclusive development.

Goenka expressed enthusiasm about the proposed development of religious tourism, which he believes will contribute significantly to economic growth.

Finance Minister Nirmala Sitharman in the budget 2024 has announced support for the comprehensive development of the Vishnupad Temple and Mahabodhi Temple corridor. Sitharmana also informed that the government aims to develop the Nalanda Tourist Center besides reviving Nalanda University to its glorious stature. 

Making India a manufacturing hub 

Goenka praised the finance minister’s plan for a comprehensive economic policy overhaul, stating, "The finance minister's focus on land, labour, and capital, along with rationalising duties, points towards a strategic push to convert India into the manufacturing capital of the world."

Despite his optimistic outlook, Goenka acknowledged the current market downturn. "Markets are down, and it’s important to understand what’s causing this nervousness. We need to analyse whether the market reactions align with the broader economic policies or if there are underlying concerns," he said.

(Source: Republicbiz)