Industry body CII has termed the Union Budget 2024-25 as growth-oriented budget, and commended the government for prioritizing MSMEs.

It said that the initiatives highlighted in the budget will fortify the backbone of our economy, driving innovation, job creation, and sustainable growth.

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The industry body also hailed the government for formulation of a plan for all-round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

Abolition of Angel tax and major rationalisation proposals for taxation of charitable organisations, TDS, Reassessment and Search cases and Capital Gains Tax Regime has been a strong call from CII.

SK Behera, Chairman CII Eastern Region, hailed the government’s initiative for formulation of plan for Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

He further mentioned that the allocation of Rs 1.48 lakh crore for education, employment, and skill development will significantly enhance opportunities for the youth, improve workforce capabilities and support Eastern and Northeastern States to provide skilled workforce to the entire country.

Shashwat Goenka, Deputy Chairman CII, Eastern Region, opined that the budget is an inclusive one that builds on India’s strong economic foundation, with nine key pillars outlined, acting on which will help us move closer to a Viksit Bharat.