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PRESS RELEASES

Union Budget, 2018-19 : Positive and Digital Plus

The 2.5 trillion dollar Indian economy is now on its way to become the third largest economy in terms of purchasing power parity (PPP). It is in this backdrop, Hon’ble FM Shri Jaitley presented his Union Budget for 2018-19 today.  Bombay Chamber lauds the FM on  an insightful Budget, which the Chamber believes will boost the economy in the coming years.
 
The three key elements of this year’s Union Budget are strengthening agriculture, infrastructure and  healthcare benefits. Bombay Chamber welcomes the focus on MSMEs, Taxation and  Credit  availability as well.  Shri  Vijay  Srirangan, Director General, Bombay  Chamber stated that they  are positive  steps. The concern, however,   was   use of employment versus automation in the MSMEs sector. The focus on Digital, including AI, Big Data, Cyber Securities, introduction of Unique Id for enterprises  are  excellent moves  in the right direction  and expected to contribute towards the growth of the economy.
 
Since the manufacturing sector is  back on growth path  and the MSMEs sector gets  significant amounts in the form of capital support and interest subsidy in this Budget, the Chamber does expect that  by increasing public and infrastructure investment  and  through increase of  fiscal deficit,  the economy  will boost the aggregate demand in the  near future.

 

 

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