Budget’s Rs 1 crore corpus for R&D to help India compete globally: Dr Anish Shah

The Federation of Indian Chamber of Commerce and Industry (FICCI) President Dr Anish Shah has said that the Interim Budget recognises innovation as a key driver for growth. 

In a post-Budget reaction statement, the FICCI President said the introduction of a significant corpus of Rs 1 lakh crore for offering fifty-year interest-free loan to scale up R&D in sunrise domains will help domestically produced. The fiscal performance bodes well for the country's macroeconomic stability and investor confidence," he said.

The FICCI President further said, “The Interim Budget is a clear and outcome-based continuum towards “Viksit Bharat”. It brings together growth, climate, and social empowerment while maintaining a careful balance between current investment rate and fiscal discipline,” Shah added. 

The FICCI President further said, "Enabling States to adopt reforms for Viksit Bharat will seize the momentum created from the center towards ‘Amrit Kaal’. A focus on blue economy, expanding and strengthening the EV ecosystem, domestic tourism, and multi-modal logistics will propel India towards the vision of a developed nation by 2047.”