Mail News Service
Jamshedpur, July 23: Bharat Vasani, a local trader and former General Secretary of Singhbhum Chamber of Commerce and Industry (SCCI) has offered his insights on the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman. Vasani noted that the budget reflects coalition governance dynamics and addresses key constituencies, particularly rural areas, farmers, and youth.
“The allocation of 1.52 Lakh Crores for various schemes demonstrates a commitment to inclusive growth,” Vasani stated. He highlighted initiatives such as promoting natural farming and all-weather crops, as well as support for first-time employees, as significant steps towards economic resilience.
Vasani praised the introduction of the “E Shram” portal, saying it would formalize the labor market and improve workforce matching. He also commended the focus on MSMEs, including easier credit facilities and increased Mudra Loan limits.
The “PURVODAYA” scheme for eastern states was highlighted as a crucial step towards balanced regional development. Vasani appreciated the collaborative approach with states on various schemes.
Other notable points included reduced custom duties on certain medicines, plans to simplify personal income tax compliance, and measures to discourage amateur speculation in F&O trading.
“While railways were conspicuously absent from the speech, overall, this budget lays a solid foundation for future growth,” Vasani concluded.
