Sunday, September 08, 2024
Overall, the 2024 budget's comprehensive measures are well-positioned to address current market challenges and foster a stable and prosperous economic environment. We welcome these forward-thinking initiatives as a positive step toward economic resilience and growth.
" We warmly welcome the 2024 Union Budget, which underscores a visionary approach to enhancing India's tourism sector. FM Sitharaman’s commitment to developing Nalanda and the Nalanda-Rajgir corridor as premier tourist destinations is a significant step in reviving and promoting our rich cultural heritage. The proposed comprehensive development of the Vishnupad and Mahabodhi Temple Corridors, modeled on the successful Kashi Vishwanath Temple Corridor, promises to elevate these spiritual sites to world-class pilgrim destinations.
The focus on transforming Rajgir into a comprehensive development hub highlights the government's dedication to preserving and showcasing our historical and religious landmarks. Additionally, the support for Odisha's tourism infrastructure reflects a broader strategy to leverage India's diverse attractions, from its scenic landscapes to its vibrant cultural and historical sites.
These initiatives not only aim to position India as a global tourist destination but also to create significant job opportunities and stimulate investments across various sectors. We applaud this forward-thinking approach, which will undoubtedly enhance India’s global tourism profile and drive economic growth."
"The Finance Minister has allocated ₹89,287 crores for healthcare this year, surpassing last year's allocation of ₹88,956 crores. This increase underscores the government's commitment to enhancing healthcare services across the nation. We also commend the launch of Phase 4 of the PM Gram Sadak Yojana, which will extend all-weather roads to 25,000 rural habitats. This initiative is pivotal in achieving last-mile connectivity, ensuring that even the most remote communities have access to emergency medical services. With improved infrastructure, we can guarantee that no emergency goes unserved, ultimately saving lives and improving overall health outcomes."
Quote to be attributed to Mr. Vinnaayak Mehta, Founder, The Infinity Group:
"In light of the recent market fluctuations, the Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, offers a strategic blueprint to stabilize and invigorate India's economic landscape. The budget's focus on setting up additional Debt Recovery Tribunals for faster debt resolution will significantly enhance financial stability and investor confidence. This move is crucial in restoring market equilibrium and ensuring efficient recovery of overdue debts.
The enhancement of Mudra loan limits to ₹20 lakh, up from ₹10 lakh, marks a significant boost for small businesses and entrepreneurs, providing them with greater financial leverage. Similarly, the reduction in customs duties on gold, silver, and platinum will likely stimulate consumer spending and support the jewelry sector. Simplifying the rules for Foreign Direct Investments (FDIs) and promoting the use of the Rupee for overseas investments will attract global investors and strengthen India's position in the international market. The proposed changes to capital gains taxation and the reduction in Security Transaction Tax on F&O transactions are expected to encourage investment and improve market liquidity. Furthermore, the new regulations on ESOPs and social security investments for Indians working in multinational corporations will bring much-needed transparency to the financial system.
Overall, the 2024 budget's comprehensive measures are well-positioned to address current market challenges and foster a stable and prosperous economic environment. We welcome these forward-thinking initiatives as a positive step toward economic resilience and growth.
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