CII president Sanjiv Bajaj appreciates Union Budget 2023-24
New Delhi, February 1: Confederation of Indian Industry (CII) president Sanjiv Bajaj welcomed and appreciated the Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman on Wednesday at 11 am.
Sanjiv Bajaj welcomed the Budget and stated that India’s Union Budget 2023-24 will have multiplier effect on the economy.
In his statement, he further stated that, "The government managed a tough balancing act of meeting the priorities of growth through capital spending while keeping a fiscal deficit under check. While at the same time very strong focus on inclusion to ensure prosperity for the masses."
Meanwhile, Bajaj also appreciated capital investment outlay to 33 per cent to Rs 10 lakh crore for the Financial Year 2023-24.
According to his statement, Union Budget 2023-24 will have multiplier effect on the economy and will create more jobs and facilities in private sector.
Overall, the government proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP, said Union finance minister Nirmala Sitharaman.
Notably, Union Budget 2023-24 holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.
This is the fifth budget presentation by Sitharaman.
This year's budget session is going to have 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13.
Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.
Also Read | Union Budget 2023: Know what becomes costlier, what gets cheaper
- ANI
