Dinesh Khara, Chairman, SBI, feels that the budget has chalked the best strategy for future
FinTech BizNews Service
Mumbai, July 24, 2024: Despite global economy remaining under the grip of policy uncertainties, India’s economic growth continues to be the shining exception and will remain so in the years ahead. Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman, while presenting the Union Budget 2024-25 in Parliament on Tuesday said that India’s inflation continues to be low, stable and moving towards the 4 per cent target. Core inflation (non-food, non-fuel) currently is 3.1 per cent and steps are being taken to ensure supplies of perishable goods reach market adequately.
Government, in partnership with the states, will facilitate the implementation of the Digital Public Infrastructure (DPI) in agriculture for coverage of farmers and their lands in 3 years.
Smt Sitharaman announced a provision of ₹1.52 lakh crore for agriculture and allied sector this year. She said, a provision of ₹2.66 lakh crore for rural development including rural infrastructure was made this year.
Inclusive Human Resource Development and Social Justice
Talking about the Saturation approach, the Finance Minister emphasised that implementation of schemes meant for supporting economic activities by craftsmen, artisans, self-help groups, scheduled caste, schedule tribe and women entrepreneurs, and street vendors, such as PM Vishwakarma, PM SVANidhi, National Livelihood Missions, and Stand-Up India will be stepped up.
Dinesh Khara, Chairman, SBI, feels that the budget has chalked the best strategy for future. Mr Khara said on the National Budget 2024 announced by the finance minister today: “The Union Budget 2024-25 while pursuing fiscal consolidation is largely focused on private demand revival with a slew of fiscal measure targeting the middle class, MSMEs and employment generation. The thrust to agriculture productivity, infrastructure, climate transition and rationalization of capital gains taxation regime are the deeper facets of the transformation that Budget seeks to achieve. From banking perspective budget is pro-growth and offers scope for balance sheet expansion. In all, Budget remains well grounded in domestic and international realties and has chalked the best strategy for future.”
