Hinduja Group commends FM Sitharaman for growth focussed inclusive Budget with emphasis on capital expenditure
New Delhi/IBNS: The Hinduja Group has lauded the Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday (Feb 1, 2022) for the Financial Year 2023-24 with a major focus on capital formation with the highest outlay ever outlay of Rs 2.40 lakh crore, about 9 times the outlay made in 2013-14.
Gopichand P. Hinduja, Co-Chairman, Hinduja Group, said, “When India is the lone shining star in the world facing threats of recession, Nirmala Sitaraman has delivered a perfectly focused growth-oriented budget with massive capital investment outlays @ 4.5% of GDP while staying on track with the fiscal deficit reduction plan.”
What is remarkable is the holistic, sustainable and inclusive approach taken covering every element of infrastructure and capability building and making the best use of the world-class digital public infrastructure, he stated.
“The budget clearly reflects PM Modi’s long-term vision for India and it aims to engage with and carry every section of society towards the goal of a self-reliant and strong India,” he said.
Dheeraj Hinduja, Executive Chairman, Ashok Leyland said the Budget emphasizes comprehensive national infrastructure development and expands on the digitization of the economy in line with Prime Minister Narendra Modi’s vision of building a competitive and resilient India, with inclusive growth.
The road transportation sector plays an important role in national development and would have an even more impactful role, going forward, in supporting the Government's vision.
The announcement that old vehicles owned by the central government and state governments will be replaced as part of the vehicle scrapping policy presents a significant opportunity for fleet modernisation.
This budget also echoes our sentiment and commitment to clean energy vehicles for a cleaner and greener future, as part of a national mission to achieve the net zero carbon emission goal, he said.
Shenu Agarwal, MD & CEO, Ashok Leyland said, “The Finance Minister has presented a Budget for 2023-24 that is pro-growth and pro-development, with a focus on sustainable development, energy transition for a cleaner tomorrow, and inclusive growth through a tech-enabled economy.”
The budget further reinforces our nation’s ambition to make India "Atmanirbhar."
The entire budget for this year addresses a wide range of topics to support the economy, including health, education, infrastructure, and agriculture.”