New Delhi : India will emerge as the fastest growing economy this year and in 2023, according to Union Finance Minister Nirmala Sitharaman who presided over a post budget session organised recently by PDH Chambers of Commerce and Industry.
“The emphasis on public investment and infrastructure has been done with a lot of consideration with other stakeholders, and this will only result in crowding in of private investment. This is an opportune time to invest as the corporate tax rate has been reduced and they can expand their horizons. India will be emerge as the fastest-growing economy in 2022 and 2023. India and the private sector need to work together as a team,” the Minister said in her address.
“Much has been spoken about the Budget,” she said, elaborating. India is at a stage where despite the pandemic we have to work on a two-track path – one is by rail, which has a multimodal approach and is guided by PM Gati Shakti and the other track is the opportunities with startups and the sunrise sectors.
India has to ensure that we have a synergy with every mode of transport and linkages with logistics and ensuring that products reach their destination inside this country or outside.
As regards startups, she said, the young generation is coming up with various unicorns, this has given us new returns and a mind to invest in these new minds. Compliances have been made easy and this will inspire the coming generation who want to do business.
Speaking on the occasion,Pradeep Multani, Senior Vice President, PHDCCI, said the Union Budget 2022-23 was highly promising, pragmatic, transforming, and progressive.
He said “we are highly encouraged to see the focus of the budget on four priorities, which includes PM GatiShakti; Inclusive Development; Productivity Enhancement & Investment; Sunrise Opportunities; Energy Transition, and Climate Action; and Financing of Investments.”
Multani said we are totally with the Prime Minister, Narendra Modi to achieve the goal of a $5 trillion economy. We strongly feel that each one of us – government, industry, and bureaucrats — need to work as a powerful team to achieve these goals.”
Saket Dalmia, Senior Vice President, PHDCCI and Sanjeev Agrawal, Vice President, PHDCCI, also spoke on the budget saying that it was encouraging to make India “Aatmanirbhar Bharat.” The qualitative change that our nation has witnessed in the last few years has become a model of sustainable development for many countries; as a result, India has a lot to offer to the world in the coming times,” they said.
