Bhubaneswar- Experts termed finance minister Nirmala Sitharam’s 2020-21 budget will enrich the rural masses. They believe that, Government has given more focus to agriculture, irrigation and rural development. More than 2.83 lakh crore rupees have been allocated for rural development. Government’s mindset is very clear. They want to give more money to the hand of people residing in rural areas so that consumption level can go up which eventually put the economy in steady growth path, which was slowed down in recent quarters to 5% level. Participating at the ‘session’ on analysis of union budget 2020-21 organized by Federation of Indian Chambers of Commerce and Industry( FICCI) Odisha State Council in here today experts rated union budget as balanced one.
Mr. Pranab Kumar Das, Principal Chief Commissioner, Income tax, GoI Said “Government has given focus first in rural development and agriculture. Then slowly move forward to health, wellness and cleanliness and after that focus has given to education and skill development.” Chairperson of FICCI Odisha State Council Ms. Monica Nayyar Patnaik has given opening remarks and welcome delegates.
Energy Committee Chairman of FICCI Odisha State Council Mr. Ashok Kumar Behera, highlighted about proposals announced for energy sector. He said that, “I was very excited about the prepaid smart meter and old thermal power plant shut down announcement.” He also talked about logistics issue of the country which hamper the animal spirit of the economy.
Director of B-One Business House private limited Mr. Rajen Padhi said that, the main objective of this year budget is to kick start the consumption, particularly in rural areas of the country. He also touch upon the point related to agriculture, textile, infrastructure, logistics and export. He said that logistics cost in India is 9 times higher than any other developing countries.
President of Odisha Mettalic Projects N D Rao has analyse the union budget 2020-21 on large industry prospective. He through light on NPA, capital expenditure of government of India, logistics issues. He said that oil and gas sector is a big winner. Large industry will be get benefited by 100 new airport announcement. He added. On disinvestment goal he said that government must not forcefully sell assets. First make them attractive for buyers, the go for disinvestment. That will give more value for both parties. He added.
Other dignitaries present at the event were PWC partner-direct tax Saurabh Kedia, Dharmesh Shah and partner of A K Sabat and Co. A K Sabat and industry representatives.