CII Kerala Chairman Sreenath Vishnu hails Budget 2022, calls it growth-oriented

Kochi (Kerala) [India], February 1 (ANI): Kerala Confederation of Indian Industry (CII) Chairman Sreenath Vishnu on Tuesday hailed Union Budget 2022 and said "it is growth-oriented."
"The Union Budget 2022 is growth-oriented with the Government focusing on infrastructure creation in the economy, clean energy, providing impetus to education, healthcare and promoting Make in India in various ways with a firm eye on sustainability," Vishnu said.
CII chairman complimented the government for its commitment towards formalizing the MSME sector through interlinking of the Udyam, e-Shram, NCS and Aseem Portals. A pathbreaking step for creating more employment opportunities in MSME Sector.
The RAMP Programme rollout will be a booster for making MSMEs more resilient, competitive, and efficient.
Additionally, to boost demand, an Increase in Financial Assistance to states for Capex to the tune of Rs 1 lakh crore and direct transfer of MSP to farmers will benefit MSMEs both at peri-urban and at the rural levels, he said.
The Budget 2022 has laid stress on a number of crucial areas of ease of doing business, such as reducing compliance burden, leveraging on the technology platform of Gati Shakti via a multi-modal approach, digitization of land records, setting up of an International Arbitration Centre, integration of skills and recruitment related portals for MSMEs, and strengthening the IBC, 2016, which will all prove to be very useful for further improvement in country's business environment.
CII welcome announcement by Finance Minister for engaging startups from the AgriTech, FinTech, EduTech, and AVGC industries, that will help the country thrive economically, the release said.
The 15 per cent LTGC surcharge cap is paving the way for startups to become a profitable asset class and stimulate domestic investment. Fintech businesses will benefit greatly from the government's proposal to build 75 digital banks in 75 regions across the country.
This is unquestionably on the 'Aatmanirbhar Bharat' trail.
As far as the FMCG sector - the overall expansionary nature of the budget will create an overall demand-pull for FMCG products.
The various proposals for Agriculture and the Rural Sectors are similarly expected to expand demand from the rural sector.
The emphasis on Skill development is expected to provide jobs and livelihoods to the youth, which again can create a demand pull for FMCG products.
Provision of expanded fund for Capex growth and infrastructure will create more bins and hence more purchasing power.
The Railway, Tourism Agro and Startup announcement from the Finance Ministry will have a positive impact on Kerala. The decision to develop the Animation, Visual Effects, Gaming and Comics (AVGC) sector offers immense job potential.
A task force will be set up to leverage its potential and enable it to service global demand. This will have a great impact on the employment opportunity in Kerala, he added. (ANI)