India Inc leaders laud budget as one with vision, discipline

Indian industry leaders have lauded the Union Budget 2023-24 as one with vision, structure and discipline that puts India on the path to become “the world champion”.

Following are some of the reactions from corporate leaders on the Budget presented by Finance Minister Nirmala Sitharaman on Wednesday.

“Budget with vision, structure, discipline. Immediate benefits to all individual earners. Continues measured path of fiscal consolidation. Sets foundation to increase every Indian’s per capita income exponentially from 1.97 lakh (2400$).True to its name: 1st budget for Amritkaal.”

— Uday Kotak, CEO Kotak Mahindra Bank

“Mbappe of a budget, not Messi at all. A budget that puts India on the path to become the world champion — all set to score goals on infra development, consumption and inclusion. A big boost for domestic manufacturing, job creation and ease of doing business! #Budget2023.”

— Harsh Goenka, Chairman, RPG Enterprises

“In the Union Budget 2023, the government has provided imperatives for a strong stable economic environment focused on driving growth and job creation. It has addressed the needs of the common people, the farmers, MSMEs, while emphasising the sustainability goals of the country.”

— Tarun Sawhney, Vice Chairman and Managing Director, Triveni Engineering & Industries Ltd

Also read: India to be fastest growing economy at 6.1% despite slowdown: IMF

“The budget presented by Finance Minister Nirmala Sitharaman offers a roadmap for the holistic development of the nation, as we enter Amrit Kaal. It sets India up as the Startup Nation for the decade.”

— Ritesh Agarwal, Founder & Group CEO, OYO

“This is a balanced and inclusive budget which will provide further impetus to growth. The renewed thrust on investment in infrastructure will drive the productivity of our economy and generate employment. Our competitiveness in the global economy will also be improved through the thrust on research in fields like 5G services, AI and agriculture.”

—  Anil G Verma, Executive Director and CEO, Godrej & Boyce

“India has prudently manoeuvred global and economical storms. It (Budget) has aptly addressed the economic growth of India by augmenting the capital expenditure outlays in infrastructure up to Rs 10 lakh crores accounting to nearly 3.3 per cent of GDP. This will have a multiplier effect on real estate asset classes like the residential, commercial, industrial and logistics sector.”

— Niranjan Hiranandani, Vice Chairperson, NAREDCO

“Union Budget 2023 heralds good news for both industry and the common man. FM (finance minister) continues to focus on investments and policies keeping the USD 5 trillion economy ambition in line of sight. Balancing both the strategic and tactical announcements, this budget lays impetus on the seven key priority areas.”

— Manish Sharma, Chairman, Panasonic Life Solutions India

(With Agency inputs)