Public sector Indian Bank on Tuesday said the budget presented by Finance Minister Nirmala Sitharaman was ‘growth oriented’ and the focus is centred on clean energy, infrastructure, agriculture, micro small and medium enterprises among other sectors.
“The reforms (announced in the budget) namely the issuance of Digital Rupee, Green bonds, extension of ECLGS upto March 2023, announcement of 75 digital banking units are the hallmarks for a healthy financial sector that will accelerate the financing and augmenting credit flow,” Indian Bank MD and CEO Shanti Lal Jain said.
“It is a growth oriented budget on the backdrop of the pandemic. It is laudable that the focus is centred on clean energy, infrastructure, agriculture, MSME, education, digital economy, logistics and increasing capital expenditure for overall development,” he said.
The government’s thrust has also been to relieve the supply-side bottlenecks, he said. The unchanged direct tax regime has led to stability in the tax environment and gives us confidence that the economy is on the path of recovery,” he said in a statement.
“The implementation of the proposed steps and also the reforms will help in raising demand, create jobs and augment India’s economic growth,” he said.
Source: republicworld.com
