Union Budget 2020 | Industry leaders from health care, hospitality sectors hail budget, say 'it reiterates govt’s focus to modernise India'
New Delhi | Jagran Business Desk: The second full-fledged budget of the Modi government 2.0 was tabled in the Parliament by Finance Minister Nirmala Sitharaman on Saturday. In the budget, the Finance Minister made various announcements for the financial sector, hospitality, and healthcare sectors.
The industry leaders from these sectors hailed the budget, saying that it reiterated the government's focus on upgrading and modernising India's stock of physical and digital infrastructure and it aims to increase farmers' and fisher folks' income by improving access to rural markets and measures to strengthen the blue economy.
"The budget laid out three themes, seeking better standards of living, accelerating the pace of universal economic development and the creation of a caring and compassionate society," said Arun M Kumar, Chairman and CEO, KPMG in India.
Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services said the Finance Minister has within the constraints of a slowing economy and the need to keep the fiscal deficit under check delivered a balanced budget.
"Measures like 100 per cent tax relief to Sovereign funds investing in Indian Infrastructure, increase in FPI limits for investing in Corporate Bonds, opening up certain government securities to NRIs and increasing the withholding tax provisions by three years all point to an effort to mobilize global funds to invest in domestic infrastructure and keep local interest rates under check," he said.
GSK Velu, Chairman & MD, Trivitron Healthcare said budget 2020 is visionary and in accordance with the policy of improving and expanding healthcare services reach to all.
"Make in India initiative for Medical devices industry has been given a big boost. Imposing health cess on the import of medical devices will help domestic manufacturing companies. Further, using tax proceeds to fund the creation of healthcare infrastructure will help address issues of capital," he said.
Vijay Kumar, MD & CEO, NCDEX said village storage scheme by Self Help Groups (SHGs) shall play a crucial role in farm-level warehousing and will help farmers in efficient post-harvest management.
(With ANI inputs)
Posted By: Aalok Sensharma