The union budget for 2022-23 seeks to support the recent economic growth momentum and help it sustain over the long-term, MD&CEO of Bandhan Bank Chandra Sekhar Ghosh said on Tuesday.
He said the substantial rise in planned capital expenditure for creation of infrastructure, focus on affordable housing and development of the MSMEs and the farm economy will prepare India for the next phase of growth.
The extension in timeline and increased outlay towards emergency credit line guarantee scheme and additional infusion of funds in the credit guarantee trust for micro and small enterprises will provide relief to the sector, Ghosh said.
The significant additional allocation towards PM Awas Yojana will boost demand for affordable housing and also for housing finance, he added.
MD&CEO of Indian Bank Shanti Lal Jain called the union budget a growth oriented budget against the backdrop of the pandemic.
Focus on clean energy, infrastructure, agriculture, MSME, education, digital economy, hospitality and transportation logistics will help growth of the economy, he said.
The mostly unchanged direct tax regime will give stability to tax environment and showed that the economy is on the path to recovery. Overall the budget will create jobs and augment growth, Jain said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU