Declaring the Union Budget 2019-20 presented by Finance Minister Nirmala Sitharaman a bottoms-up, inclusive and balanced budget, president PHD Chamber of Commerce and Industry Rajeev Talwar and chairman of its Kashmir-chapter Mushtaq Ahmed Chaya Saturday said the budget focuses on socio-economic development of the country to build a new India going forward.
According to a PHD Chamber statement, they said theproposals unveiled in the budget on various socio-economic fronts of theeconomy indicate promises of progress in coming times. The focus on MSMEs,development of infrastructure, affordable housing and women empowerment wouldgo a long way to promote all-inclusive development in the economy, said vTalwar.
The lowering of tax rates to 25 percent for companies with annual turnover of Rs 400 crores is encouraging as it was proposed by the industry since the last many years. It will enhance business sentiments and production possibility frontiers in the economy, said Talwar.
The proposal to invest Rs 100 lakh crore in infrastructureover the next 5 years is highly encouraging and put India’s infrastructuredevelopment really on a high road, said Mr Rajeev Talwar.