Reaction of Udaipur Chamber of Commerce & Industry on the Union Budget

Udaipur: The Udaipur Chamber of Commerce & Industry (UCCI) believes that the Union Budget presented by Union Finance Minister Smt. Nirmala Sitharaman has been formulated with a focus on balanced growth, economic stability, industrial promotion, and employment generation. This budget is poised to move India further in the direction of becoming a developed economy.
UCCI President Shri Manish Galundia shared his views on the key features of the budget as follows:
•    An increase in capital expenditure will accelerate the development of basic infrastructure, roads, railways, logistics, and urban development, providing long-term benefits to industry and trade.
•    Special emphasis has been placed on credit facilities, credit guarantees, digital platforms, and skill development for the MSME sector, which will be highly beneficial for small and medium enterprises.
•    Stability in the tax structure will boost confidence in the business community and strengthen the investment climate.
•    Provisions aimed at promoting Digital India, startups, and innovation will encourage new entrepreneurs.
•    Initiatives related to green energy, environmental protection, and sustainable development will help industries prepare for the future.
Impact on Industry and Trade:
According to UCCI, this budget:
•    Sends positive signals for manufacturing, services, tourism, real estate, and the construction sector.
•    Will promote employment generation, leading to increased consumer demand.
•    Will strengthen export promotion and the Make in India initiative, enabling Indian industries to compete more effectively at the global level.
•    Will enhance ease of doing business by simplifying tax compliance.
Expectations and Suggestions:
UCCI believes that timely and effective implementation of the budget provisions will ensure real benefits for industry and trade. Additionally, special packages for regional industries and cities with tourism-based economies could prove even more beneficial in the future.
Conclusion:
Overall, this Union Budget is encouraging for industry, trade, and the economy. The Udaipur Chamber of Commerce & Industry welcomes the efforts of the central government and hopes that this budget will provide new direction to industrial development not only for the country but also for Rajasthan and the Udaipur region.