New Delhi, Feb 2 (KNN) The Southern India Chamber of Commerce and Industry (SICCI) has lauded the Union Budget 2024 presented by Finance Minister Smt. Nirmala Sitharaman, emphasising its growth-oriented approach and fiscal prudence.

SICCI appreciates the government's commitment to fostering growth in various sectors, including infrastructure, blue economy, agriculture, aerospace, defence, and green energy.

SICCI particularly commends the budget's focus on agriculture, highlighting the promotion of private and public investment in post-harvest activities, modern storage, supply chains, processing, marketing, and branding.

The introduction of innovative technology products like Nano-DAP is seen as a crucial step in reducing fertilizer subsidies and improving the farm economy.

The Chamber welcomes the budget's emphasis on bolstering innovation through initiatives supporting research, innovation, and deep technologies in the private sector.

SICCI also expresses support for climate-resilient activities in the blue economy, including the promotion of coastal aquaculture and mariculture.

Notably, the Chamber requests the establishment of at least two integrated aqua parks in Tamil Nadu, given the state's significant coastline.

Infrastructure projects, prioritised under the PM Gati Shakti program, are acknowledged by SICCI for enabling multi-modal connectivity.

The focus on multi-modal logistics is deemed crucial for improving efficiency and reducing costs.

Additionally, the PM Awaas Yojana-Grameen is welcomed for its potential to expand housing programs for the poor and middle-income groups.

SICCI applauds the budget's efforts to catalyse India's renewable energy transition by targeting one crore households for rooftop solarisation.

Other positive developments noted by the Chamber include the extension of Ayushman Bharat benefits to ASHA and Anganwadi workers, an increased defence outlay, and the provision of Mudra Yojana Loans for Women Entrepreneurs.

SICCI describes the budget as growth-oriented, focusing on sunrise sectors and social impact, aligning with the aspirations of businesses and the general public.

The Chamber believes that the initiatives introduced will have a transformative impact on the Indian economy.

(KNN Bureau)