Friday, July 11, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Budget

Budget: Sitharaman explains two-goal strategy for modern India

Fiinews by Fiinews
February 10, 2022
in Budget, Investment
Reading Time: 2 mins read
A A
0
CII

Finance Minister Sitharaman addressing the Special Meeting of the CII National Council 2021–22 on 5 February 2022 in New Delhi.

0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Narendran noted that the budget resonated with the current needs of the nation

The first of two-goal strategy is to support the economic revival and recovery as well as build the infrastructure of the 21st century for a modern India. The other goal is to gain from the multiplier effect and crowd in private investments, Finance Minister Nirmala Sitharaman has explained to industry stalwarts.

Urging the private sector to support the virtuous cycle of growth and to invest, she said that investment opportunities abound in the country.

The Government has extended the benefit of the lower corporate tax rate to new manufacturing units by one more year, till March 2024.

“There are many sunrise sectors where India has taken the lead, such as vaccines, genomics, space, atomic energy etc. India has proven its prowess in the adoption of digital and the start-ups are an enabling force for innovation and new ideas,” Sitharaman said on 5 Feb 2022.

“The corporate sector should not lose this opportunity for higher growth,” she added during CII-organised interaction with the industry.

She explained that the issue of rural distress was being addressed in multiple ways. The budget has enabled access to tractors and other farm equipment through rentals as well as making credit available.

The Government has ensured the availability of nutrients and fertilisers at affordable prices, despite the increase in global prices. Multiple welfare schemes have provided support for housing, cooking gas, electricity, healthcare etc.

Responding to the lower allocation to MNREGA as compared to the revised estimates of last year, she clarified that the budget allocation this year has been pegged at the allocation of last year. Given that it is a demand driven scheme, higher allocation would be provided as per the demand.

Responding to industry suggestions, the Finance Minister acknowledged the need to be watchful of the increases in interest rates in developed countries and the high commodity prices. She welcomed the industry’s suggestion of a regular dialogue on some of these external challenges.

On the privatisation of the two public sector banks and one general insurance company, as suggested in last year’s Budget, Sitharaman said that the Government is committed to taking forward the announced privatisations.

Welcoming the Minister at the session, CII President T V Narendran noted that the budget resonated with the current needs of the nation and also laid the foundation for a high growth trajectory towards India @100 in 2047.

He appreciated the focus on capital expenditure in the budget and expressed that it would set in motion the virtuous cycle of employment, consumption and growth and would also crowd in private investments. fiinews.com

Tags: CIIMinistry of Finance
ShareTweetShare

Related Posts

IVCA
Investment

Invest: India requires $150-$200bn for renewables

by Fiinews
July 10, 2025
0
25

Mumbai to host Renewable Energy Summit 2025 India will require another US$150-US$200 billion investments for renewables over the next five...

Veeda Lifesciences Logo
Investment

Invest: Veeda to leverage Mango AI capabilities

by Fiinews
July 9, 2025
0
12

Dr Misra integrating LLM-GenAI into Querent™ for efficiencies Veeda Lifesciences, a global contract research organization (CRO) from Ahmedabad, is investing...

IPA

Invest: Serendipity Space raises pre-seed round

July 5, 2025
17
Indian Steel Association

Invest: India needs $200bn for expansion of mills

July 4, 2025
19
PIB

Invest: PSBs told to strengthen credit to MSMEs

June 29, 2025
17
PIB

Invest: Minister wants further development of IFSCS

June 28, 2025
21
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Japanese delegation inspects DMIC progress
  • Project: Mindset change is critical for innovation
  • Project: 4,000% in installed solar capacity
  • Project: EV policies part of climate goals
  • Tech: ansrsource-ANSR reshape talent across India

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.