New Delhi: Finance Minister Nirmala Sitharaman’s Budget speech emphasized various initiatives to empower small and medium-scale industries, crucial for employment generation, as highlighted by Union Minister H D Kumaraswamy. The Budget covers sectors like infrastructure, manufacturing, healthcare, education, startups, and green energy.
Kumaraswamy praised the Budget for its focus on financial empowerment of small and medium-scale industries, with a substantial allocation of Rs 1.48 lakh crore for education, employment, and skills development to create 4 crore jobs and utilize human resources effectively. Additionally, Vibhor Steel Tubes CMD Vijay Kaushik applauded the boost in infrastructure development funding, which is expected to drive demand for sectors like cement, steel, and power.
M C Garg from Goodluck India highlighted the significant increase in defence capital outlay to Rs 1.72 lakh crore, benefitting the steel industry. Sumit Jhunjhunwala of ICRA noted the favorable implications of increased funding for flagship schemes on long steel and pipe manufacturers.
Published 24 July 2024, 16:44 IST
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