Post budget quote by *Mr.Vinay Thadani – Chief Financial Officer

The Budget highlighted India’s positive growth rate of 9.2%, which is the highest among other large economies. Capital expenditure was increased by 35.4% to 7.5 lakh crores as is a key driver to bringing sustainable economic revival and generating jobs for the youths. The budget provided additional allocation of Rs. 50000 crore under Emergency Credit Line Guarantee Scheme (ECLGS) which benefited more than 130 lakh MSMEs from the Emergency Credit Line Guarantee Scheme (ECLGS) and the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) plan. Exemptions are being provided to encourage exports on items such as embellishment, trimming, fasteners, buttons, zipper, lining material, specified leather, furniture fittings, and packaging boxes that may be required by bona fide exporters of handicrafts, textiles and leather garments, leather footwear, and other goods. The production linked incentive (PLI) in 14 industries is expected to create 60 lakh jobs with the potential to produce 30 lakh crore in production over the next five years.*