Budget to boost consumption, strengthen economy: CII President

When the Global Consumption Scenario collects many chapters, the Union’s Budget FY26, which was presented by the Minister of Finance Nirala Sitaraman on February 1, according to industry leaders, economy.

Sanjiv Pur, President, Indian Industry (CII) and Chairman and Executive Director, ITC Limited, Interaction Business today He said there were several interventions that either immediately or overtime will stimulate the country’s consumption.

“Personal income tax help is significant and is going to provide immediate assistance and therefore stimulate consumption. There is also a lot of attention on the intensive areas of rural India, Agriculture, MSME, exports and industrial workforce, such as shoes and toys. So all this helps the generation of good employment and therefore consumption over a period of time. Thus, I think that strong budget steps to promote consumption and strengthen the virtual cycle, which is currently in the economy, says Pur.

Especially since production is one of the basic budget focus. The government has announced the production mission to promote the sphere. According to Puri, the budget focuses on very important parties when it comes to competitiveness.

Meanwhile, according to Puri, according to Puri, according to Puri, artificial intelligence, research and development, as well as innovation will increase India’s competitiveness. “It has the opportunity to have a larger generation of economic activity in the country to develop our IPs in this area. It is very important for both prospects, and both go to global trends. So it’s only internal. We can be a global power plant. These areas are also playing on our strengths. India is strong on its mindset and technology. These are the places where youth in India are strong, so it plays well, “says Pur.

Regarding export statements, Puri says that exports faces obstacles due to mitigation in global demand. “Export is an important field. You are absolutely right, and it’s an area that collides with growing obstacles, because global demand is soft, and since obstacles come. CII also supported the integrated review and setting up a commission of various ministries to focus on exports, “says Pur.

According to Puri, budget statements on exports are a welcome step. “Initiatives related to the field must enter. And a wonderful example of what we have done in electronics. How can we replace such examples in other areas, particularly in the intensive labor area? The integrated approach is the way to go because we have to deal with home drivers. We also need to deal with FTA in this matter. We also need to deal with India and the rest of the world for a speedy reaction for this entire trend of the world’s geography.

According to Puri, Critical Minerals and Lithium-ion batteries, the release of customs duties, such as customs duties, will compete. “In a period of time, we need to develop a much stronger and more value chain and ecosystem in India. But these are the important steps that will allow this to happen, “says Pur.