Jaipur: This budget is not just for the year but is laying down the direction for the next 25 years. It has made provisions for what India would need by ‘Amrit Kal’ (100th year of Independence) to create a strong foundation and for rapid progress. A key aspect of the Budget is infrastructure in which people and goods should take less time to reach the destination and cost less by creating a huge network of different infrastructure. A huge focus has also been made on digitization of several elements like e-passport, digital Rupee, digital health code, digital banks and universities. Similarly, the creation of digital land records to facilitate registration of land anywhere, digitization of title documents and online verification process have also been proposed. The most important provision for Ease of Doing Business 2.0 is the creation of Information-Technology (IT) Bridges between States and the Centre to reflect the true federalism of the country. A central portal bridging all States based on a similar mechanism to GST is to be created. This was stated by Founder, Chir Amrit Legal LLP, Mr Sanjay Jhanwar. He clarified various elements like digital currency, extended term for filing of returns, commissions, etc. He was addressing the 'Virtual Session on Analysis of Union Budget 2022-23' as the keynote speaker on the virtual platform today. The programme was organised by the FICCI Rajasthan State Council. It was moderated by Head, FICCI Rajasthan State Council, Mr Atul Sharma.
Deputy Zonal Head – Jaipur Zone, Union Bank of India, Mr Niraj Singh said that this Budget is expected to support India’s growth momentum. It is responsible, credible, capital expenditure heavy, investments oriented and demand generating. Like the previous Budget, the theme continues to be an extension of infrastructure, health, ease of doing business, consistency, stability in tax rates, and digitization to facilitate overall growth. Substantial increase in expenditure for creation of infrastructure, focus on affordable housing, welfare, development of MSMEs will prepare India for the phase era of growth. Union Bank have started various initiatives like Union Dial, SME First branches, MSME Gold Card Scheme and complete bouquet for services to facilitate industries, he added.
During the welcome address, Chairman, FICCI Rajasthan State Council, Mr Ashok Kajaria said that Union Budget 2022 is a forward-looking and growth-oriented budget. It strengthens the drivers of long-term development, builds on the previous Budget, and scores high on consistency. Furthermore, it energizes many sectors and continues to simplify the taxation policy. The Emergency Credit Line Guarantee Scheme (ECLGS) extended up to March 2023 and its guarantee cover expanded by Rs. 50,000 crores was a very important decision for the MSMEs. Apart from this, revamp of Credit Guarantee Fund Trust for Micro and Small Enterprises as well as stepping up of the outlay for capital expenditure are all steps in the right direction.
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