Budget 2023-24 is considered as a stepping stone towards growth of India. In a conversation with Piyush Goyal, Textile minister, it was revealed that the union ministry has come across a great level of assessing the customs duty. The efforts made are a needed to promote the companies which are lying un-utilized.
This industry helps a lot in understanding the competence and also the less competitive companies. In this case, imports will be helping in the continuous process. A lot of capital has been given encouragement in order to be in the duty-free market. The efforts are been made to promote the domestic manufacturing. This has a huge impact to align with the world class qualities. India is a nation which cannot have two quality norms.
Talking about the economic survey, the international sector is facing challenges at the moment. Still, India has managed to get 8-9% growth till now. This it is phenomenal considering the current global trade. The credit goes to the young boys and girls for giving the 20% growth in the services.
The budget reflects tourism to a large extend where rich dividends are being provided. The budget in a way will be growing in the next 9 years. A great example of this is the Gati Shakti Mission. The finance minister has recently announced Rs.75, 000 crore for 100 critical mile connectivity (this can be calculated up to Rs.10 lakh crore in an average). As the national highway transportation has increased, the speed of transport increase too at a good cost.
A budget of Rs.1, 97,000 crore is there for the scheme. When the PLI budget will be approved, one need not go to the budgetary process again.
