Budget 2023: Hope for boost to trade and industry, disappointment over lack of GST exemption – Budget 2023: Trade and industry gets a boost

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After the presentation of the Union’s budget, a smile can be seen on the faces of entrepreneurs and business people. The budget is considered easy and simple from a business point of view. Small-scale businesses also say that investments will be made and infrastructure will be strengthened to increase convenience. The budget has shown confidence in improving all these systems. Most traders have appreciated the budget. However, traders are also disappointed that they are not exempted from GST’s provisions.

presented a development-oriented budget

The government has presented a development-oriented budget. Union Budget 2023 is a budget for all Indians. It has provided artisans, agriculture and infrastructure. The government has given special preference to SMEs. The Federation of Small and Micro Industries welcomes this budget. The voluntary recovery scheme is a better initiative. In this budget, a large gift has been given to about 6 crore small businessmen across the country. A loan of Rs 2 lakh crore will be given to MSMEs across the country which will boost small-scale industries.

– Ashok Gupta, National President, Confederation of All India Micro Small Scale Industry

try to accommodate all classes

Including budget. This has sought to accommodate developing India and all classes. However, efforts to specifically encourage small and medium-sized industries and companies operating in the unorganized sector are not enough to solve the problem of unemployment. The government had to provide a special package for this. The lack of liberal policies for MSMEs is missed in the budget.

– Niranjan Poddar, President, Automotive and General Traders Motors Association Mori Gate

amrit budget is a real budget

Amrit budget is a real budget for every Indian. This gives a boost to the industry. The economy will be strong. Budget with relief for traders and entrepreneurs The general budget for the year 2023-2024 is unprecedented in the field of agriculture, industry and small-scale industry (street vendors). The announcement of financial relief for MSMEs is welcome. The government has given a great relief to the workers.

– Shashi Mahajan, Chairman, Industry City Trade Association

There will be an increase in employment in the country

It is a budget of expectations for the middle class. Promotion of coarse grains, agricultural credit, fisheries, cooperatives are major attractions. The emphasis on green growth is one of the spearheads of this budget. Investments of foreign companies in the country will increase. Swadeshi’s self-sufficient India campaign will be immediately strengthened, which will boost employment in the country.

– Vikas Chaudhary, Swadeshi Jagran Manch

Economy is expected to improve

Micro, small and medium industries will be promoted in the country, which will increase employment. The government must also rein in Inspector Raj. Youth, women, farmers, entrepreneurs, workers, all sectors will benefit from the budget. Tax exemption of up to seven lakhs is a great relief for middle and wage earners.

– Paramjit Singh Pamma, Chairman, Federation of Sadar Bazar Traders Association

Lakhs small business owners benefit

The announcement in the budget will benefit thousands of small business owners. These entrepreneurs provide 45 percent of employment in the country. The opportunity to establish 30 new Skill India International Centers to technically empower small entrepreneurs is commendable. This will benefit a lot. Industries will greatly benefit from income tax exemption and tax exemption for those who work in digital form.

Dr. Anil Gupta, Chairman of Delhi Manufacturers Association

relief for small traders

A good budget has come. Small traders are relieved of this. This is an election year, which is why the government has presented a better budget. Every citizen of India has been kept in mind. Easing is also expected from the period of inflation. The business community is very happy with this. There is also an exemption from income tax.

– Mukesh Sachdeva, Chairman, Delhi Hindustani Mercantile Association

crucial support for the industrial sector

There is budget to accelerate development. Significant support has been provided to the industrial sector. It is a commendable move to increase the capital investment expenditure to Rs 10 lakh crore. Govardhan Yojana will stimulate small scale business. Lakhs youths get employment from this budget.

– Virendra Nagpal, Chairman, Laghu Udyog Bharti, Delhi

People will be attracted to tourism

The effort of the government is to attract people to tourism. The government takes connectivity seriously, for this the government has made provision of 2.40 lakh crores in rail and infrastructure which will boost the economy in all areas. The government has prepared the budget taking into account the upcoming elections in 9 states. Full care has been given from the poor to the profession and there is a boom in the stock market as tax exemption has been granted after many years.

– Sandeep Khandelwal, tourism expert and hotelier

One percent off MSME loan welcome

It has been announced in the budget to provide assistance to the MSMEs affected by the epidemic. In this context, the Minister of Finance discussed the establishment of a voluntary resolution scheme for the settlement of contractual disputes. The central government will allocate Rs 9000 crore for the MSME sector. MSMEs with a turnover of up to 3 crores have been granted tax exemption in the budget.

– Hemant Gupta, General Secretary, Indian Industry Trade Board

Gets new opportunities in home affairs

The provisions of the budget will provide new opportunities in domestic business. In addition, the country’s export trade is getting a boost. The Minister of Finance has cleared the way through seven priorities in the budget to bring maximum money to the market. Traders will benefit directly or indirectly. Apart from this, it is a good step to make five income tax brackets and increase the income tax exemption to seven lakhs. ,

– Praveen Khandelwal, National Secretary General, Confederation of All India Traders

Help for medium and small traders

The national government’s budget is in balance. An attempt was made to relieve medium-sized and small traders. Income tax is only exempt in the new tax system, but there was no clarity about the old tax system. Even after two years, almost 90 percent of businessmen and the middle class still apply the old tax system. Gasoline diesel should be subject to GST.

– Brijesh Goyal, Chairman, Chamber of Commerce and Industry

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