The announcement in the Union Budget presented by Finance Minister Nirmala Seetharaman that an impetus would be given to ‘Make in India’ scheme would give assured employment to the youth, said Tamil Nadu Foodgrains Merchants Association Limited president S.P. Jeyapragasam here on Tuesday.
In a statement, he said the 60 lakh job opportunities promised across the country would not only prevent migration of employable people from the country, but also bring down the gap between demand and supply.
The proposed ‘One India One Registration’ scheme to digitalise land record management would go a long way in ensuring transparency and preventing corruption. Issues such as impersonation and forgery of documents might end in the future, Mr. Jeyapragasam said.
Tamil Nadu State Transport Corporation Staff Federation State joint general secretary S. Sampath said the budget had nothing tangible for the salaried classes, who were the main contributors of direct tax. It was a blow to the middle class. On the contrary, some of the big chains and corporate houses would benefit from the budget as it indicated more thrust to private participation in PSUs.
At a time when a majority of the people opposed dilution of LIC of India, the Finance Minister’s proposal to come out with an IPO was anti-people and only showed that the Centre was not bothered about the masses, he charged.
Professor S. Theenathayalan, Head, Department of Economics, The Madura College, described the budget as promising and a head-starter for the nation’s economy for the next two decades. The announcement of creation of 60 lakh jobs over the next five years, linking of rivers Ganga and Cauvery, interest-free loans to States, digital university, et al, were signs of moving towards a developed society. The proposal to give enhanced support to agricultural produce would be a fillip in the COVID-19 pandemic period, he added.
Sourashtra Chamber of Commerce president Kumaran B. Jaghuva welcomed the budget, saying the huge allocation of funds to start-ups would be a fillip to neo-entrepreneurs. MSMEs, which were reeling under severe losses due to various factors, especially over the last two years after the pandemic outbreak, should feel relieved as the budget had announced ₹2 lakh crore and other sops for the sector. The announcement on enhancing railway projects, linking of rivers, et al, were set to boost the economy, he added.
