R S Sachdeva, Chair, Punjab State Chapter, PHDCCI, while presenting his views on the Budget 2024-25 appreciated and congratulated Hon’ble Finance Minister, Smt. NirmalaSitharaman for the highly pragmatic, transforming and progressive budget.
He applauded the theme of the budget which puts special focus on skilling and MSMEs.
He commended the Government’s efforts in focusing on natural farming and its special emphasis on MSMEs and manufacturing, noting that these initiatives would enhance India’s growth on an international level.
He further recognized that the budget’s support for traditional micro and small industries is crucial for achieving the goal of Viksit Bharat.
Additionally, he highlighted that the abolition of the angel tax for all classes of investors is expected to foster the growth of angel investors, thereby providing necessary investments for startups.
Overall, Sh. Sachdeva stated, it is a very promising budget and will create a conducive environment for industrial growth through infrastructure development, tax reforms, and sustainable energy investments.
Sh. Karan Gilhotra, Co-Chair, Punjab State Chapter, PHDCCI praised the historic Budget 2024-25 and welcomed Government’s commitment to generate employment opportunities for the youth and allocation of over ₹3 lakh crore for schemes of Women development.
He also mentioned the forthcoming announcement of twelve industrial parks under the National Corridor Development Programme, will contribute to the nation’s overall development.
Sh. Sanjiv Singh Sethi, Co-Chair, Punjab State Chapter, PHDCCI appreciated the Budget 2024-25 stating that the simplification of Foreign Direct Investment and Overseas Investment rules will lead to more multinational companies investing in India and increase in its overall GDP.
He stated that the forthcoming policy document on energy transition pathways will lead to India achieving its clean energy goals. He emphasized the importance of the Jan Vishwas Bill 2.0, which will enhance the ease of doing business for all and stated that the Budget presented marks a transformative step towards AmritKaal.
Mr.Madhu Sudan Vij, Chair, Chandigarh Chapter, PHDCCI while appreciating the Union budget today mentioned that the increase in limit for MUDRA loans for MSMEs from Rs 10 lakh to Rs 20 lakh for those who have availed the loans before and successfully repaid will help MSMEs in a big way. He also appreciated Government decision of proposing a new assessment model for MSME credit by public sector banks which will not rely only on assets and turnover criteria but will be based on the digital footprint of MSMEs in the economy
Mr.Vij mentioned, the Government decision to reduce the turnover threshold of MSME buyers for mandatory onboarding on TReDs platform from Rs 500 crore to Rs 250 crore will give impetus to quick money recovery.
Mr.Suvrat Khanna, Co Chair, Chandigarh Chapter, PHDCCI while appreciating the union budget mentioned the decision to open new e-commerce export hubs to enable MSMEs and traditional artisans to make their make in international markets will help MSME to make their footprints in global footprints.
He also appreciated Government decision for credit support to MSMEs during a stress period, through a new mechanism, while being a special mention account for reasons beyond their control, to avoid such enterprises getting into the NPA stage.
