The budget aims to accelerate growth and unlock the country’s potential by initiating regulatory reforms in health and education etc.
Raipur_01.02.2025: Pradeep Tandon, Chairman, PHD Chamber of Commerce and Industries said that the budget aims to accelerate growth and unlock the country’s potential by initiating reforms in taxation, urban development, mining, financial sector, power and regulatory reforms. The focus is on promoting middle class spending for inclusive growth and making the economy prosperous. Investment limit of 2.5 times for MSME classification will boost opportunities in this largest sector. Boosting footwear, leather and toys industry will create 22 lakh jobs, revenue of ₹4L crore and exports of over ₹1.1L crore. Fish production and aquaculture, seafood exports in the marine sector will bring an enabling framework for sustainable exploitation of fisheries from the Indian Exclusive Economic Zone and the high seas will create new opportunities and enrich the economy. Opening of cancer hospitals in every district and urban challenge fund aimed at transforming cities, broadband facility in primary schools will open new avenues of education and social consciousness. The increased cost with the expanded Jal Jeevan Mission will not only provide potable water but will also give a further boost to pipe construction. 100 GW nuclear power generation will open new avenues. The revised Udan scheme will boost the travel-tourism and infrastructure industry by adding 120 new destinations along with promoting medical tourism, thereby accommodating 4 crore passengers. Increasing insurance FDI from 74% to 100% will lead to the introduction of new and affordable schemes. Increasing the TCS limit on LRS remittances from Rs 7 lakh to Rs 10 lakh, TDS limit to Rs 6 lakh, removal of TCS on education loans up to Rs 10 lakh from specified financial institutions will promote quality education and spending power. The facility for taxpayers to claim the annual value of two self-occupied properties as zero without any condition will further boost the building infrastructure industry
