Looking forward to budgetary support for demand generation: PHD Chamber

New Delhi: Union Railways, Commerce and Industry, Consumer Affairs and Food and Public Distribution Minister Piyush Goyal and Union Agriculture and Farmers’ Welfare Minister Narendra Singh Tomar address a press conference at the National Media Centre in New Delhi on Dec 10, 2020. (Photo: IANS)

New Delhi, Jan 30 (IANS) Industry body PHD Chamber on Saturday said it looks forward to a growth-oriented budget for FY22 which ensures demand generation.

According to Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, “Going ahead we look forward to a vibrant growth-oriented budget which ensures a great support to demand creation in the economy with lower interest rates for consumers and businesses.”

Besides, Aggarwal said the industry body expects the budget to reduce compliances for Micro, Small, and Medium Enterprises (MSMEs) vis-a-vis ease of doing business at the ground level.

He also cited the need for the budget to lower the tax regime to increase personal disposable income which would be instrumental in rejuvenating the economic growth trajectory in the coming times.

Earlier, on last Friday, the Economic Survey 2020-21 suggested that economic recovery would be supported by a supply-side push from reforms and easing of regulations, push to infrastructural investments, boost to the manufacturing sector through productivity-linked incentive schemes, recovery of pent-up demand for services sector, increase in discretionary consumption subsequent to roll-out of the vaccine and pick up in credit, given adequate liquidity and low interest rates.

Union Finance Minister Nirmala Sitharaman would present Budget 2021-22 in Parliament on Monday.

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