Post Budget Reaction- Arvind Mediratta MD CEO, METRO Cash Carry India
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Arvind Mediratta MD CEO, METRO Cash Carry India.
Post Budget reaction from Arvind Mediratta MD & CEO, METRO Cash & Carry India.
A pro-growth budget with credible roadmap with numbers; Big thrust on capital expenditure that has gone up by 33% along with lots for middle class. Amount of inclusiveness in this budget from medium to long-term perspective, especially given the global inflationary market, will help maintain fiscal discipline, lead to capacity building and help accelerate India’s growth prospects.
The priority towards green fuels, sustainability is a very good move. Lot of allocations have been made for the rural sector. This will give spur consumption and boost growth towards achieving $5 trillion economy.
The revamped Credit guarantee for MSMEs and additional infusion of Rs9000cr is great development for MSMEs that are still recovering from the impact of pandemic. The announcement of decriminalizing 3400 legal provisions may not be quantifiable in terms of numeric but is a huge positive step towards reducing compliance burden and enhancing ease of doing business. Also, the much-awaited income tax slab change is a huge tax relief for the salaried middle class and will help boost spends and consumption.
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