Finance Minister Nirmala Sitharaman presented the Union Budget 2024 today, detailing a nine-point agenda designed to drive economic and social reforms in India, contingent on successful execution. Commenting on the budget, Saugata Gupta, MD & CEO, Marico Limited says, “With the Union Budget 2024-2025, the Government has taken strides towards realising the Viksit Bharat vision by 2047. The outlay of ₹2.66 lakh crore for rural development, and ₹1.52 lakh crore for agriculture and allied sectors will help in stabilising rural economies and ensuring farmers have access to essential resources. It also highlighted the need for self-sufficiency in pulses and oilseeds such as mustard, groundnuts, sesame, soyabean, and sunflowers, working towards strengthening their production, storage, and marketing."
He highlighted that the budget allocates substantial funds for infrastructure development, which is expected to improve supply chain efficiency and expand distribution networks. He also noted the positive focus on enhancing digital infrastructure and connectivity.
"Further, the proposed deductions for salaried individuals and pensioners shows the Government’s clear focus on stimulating disposable incomes of the middle class. I believe the Budget is comprehensive and indicates the Government’s resolve towards fiscal prudence and inclusive growth," Marico CEO adds.
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