Economic Survey points towards a reassuring union budget: CAIT

New Delhi, Jan 31 (KNN) The economic survey for financial year 2022 shows a progressive figure in all the sectors of the economy which shows a bright future for the Indian economy and gives an inclination about possible policies and incentives for small businesses in India said B C Bhartia, National President and Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) in a joint statement.

They said that we have to see the economic survey in a comprehensive manner under the background of a fatal crisis due to covid and disruption in smooth flow of goods and services in the economy.

The timely and bold measures taken by the government of India have shown positive results. Widespread vaccination coverage helped in building confidence and removing the fear due to covid-19, said the CAIT senior officials.

Both trade leaders said that the Union Government has successfully helped the economy to regain due to supply side reforms taken from time to time.

Availability of fiscal space has helped a long way in ramping up the capital spending by the government, with the government consumption growing by 16.5 per cent during the current fiscal year this will help pumping in funds into the economy, opined Bhartia and Khandelwal.

The 29.4 per cent growth in rate of import is a matter of concern raised by CAIT and has suggested to bring it down to maintain the balance of payment position in India’s  favor.