Biocon Chief says budget outlines comprehensive roadmap for sustained economic growth

Medically Reviewed By : Dr. Kamal Kant Kohli

Published On 2024-02-02 07:30 GMT | Update On 2024-03-22 08:29 GMT

Bengaluru: Biotechnology industry veteran Kiran Mazumdar-Shaw on Thursday said in the interim budget, Union Finance Minister Nirmala Sitharaman has outlined a comprehensive roadmap for sustained economic growth that will enable India to achieve developed economy status by 2047. She termed it as an "all encompassing growth focused" budget, which augments inclusive economic development.

"In the interim budget, Finance Minister Nirmala Sitharaman has outlined a comprehensive roadmap for sustained economic growth that will enable India to achieve developed economy status by 2047. Her emphasis on research and innovation, bio manufacturing, robust infrastructure development, and technology-driven digital transformation augur well for India to deliver on aspirational yet people-centric, inclusive development," Mazumdar-Shaw posted on ''X".

The executive chairperson of Biocon Limited said, "No tax change, 'Viksit Bharat' mantra in last budget before polls - an all encompassing growth focused interim budget which augments inclusive economic development. Bio manufacturing and research financing to boost innovation and green technologies is positive."

In his reaction, Volvo Group in India President & MD Kamal Bali said, overall it is an "outstanding" interim budget.

"The interim budget by the FM continued upholding India's impetus on inclusive and sustainable growth, backed by responsible and efficient governance. It was a pleasant surprise to see aggressive fiscal deficit goals and stable macroeconomic performance, while furthering capex on physical infrastructure as well as DPI (Digital Public Infrastructure), he said in a statement.

The one-lakh crore support to technology and innovation is a very thoughtful and a compelling idea that will propel India on course to Viksit Bharat. Likewise, is the focus on farm sector and MSMEs, he added.

Porter CEO & Co-Founder Uttam Digga said driven by the goal of people-centric inclusive development, we appreciate the continued focus on developing MSMEs.

"With the aim to give them greater accessibility, affordability and availability, we are happy to see MSMEs receiving access to adequate finances, training and technology. MSMEs make up the backbone of the Indian economy, and this push will help them compete on a global scale," he said in a statement.

The commitment to meet the net zero target in 2070 is in line with our focus on green energy and EV ecosystems, he said, adding that "Building up manufacturing and charging infrastructure will increase confidence in EVs and encourage greater adoption among owner-cum-drivers."

The Federation of Karnataka Chambers of Commerce & Industry (FKCCI) welcomed the interim budget and said it is focused on making India a developed country.

Congratulating the government for not resorting to a populous budget and focusing on visible all-round development, it said, "We welcome the budget which is focused on the four priority sectors of Women, Youth, Farmers and the Poor which is aimed at quality growth rather than the quantity."

Original news source: https://www.ptinews.com/story/national/budget-outlines-comprehensive-roadmap-for-sustained-economic-growth-kiran-mazumdar-shaw/1258886

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Biocon Chief says budget outlines comprehensive roadmap for sustained economic growth

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