New Delhi, Feb 1 (KNN) In a notable response to the Interim Budget 2024-25, Mr. Israr Ahmed, President (Officiate) of the Federation of Indian Export Organizations (FIEO), has expressed his appreciation for the government's focus on driving the growth potential of the Indian economy.

Contrary to some perceptions, Mr. Ahmed characterised the Interim Budget as a forward-looking document that outlines the government's vision for the country's economic development.

He highlighted key areas addressed in the budget, including People-Centric Inclusive Development, the expansion of the tax base, strengthening the financial sector, managing inflation, and fostering overall economic growth across the nation.

Additionally, he believes that the creation of logistics corridors and improved railway cargo handling will streamline trade operations, providing a boost to international trade, especially in the export and import sectors.

However, while expressing optimism, Mr. Ahmed raised some concerns.

The FIEO President (Officiate) mentioned that while the boost in PLI allocation and the development of the semiconductor and display manufacturing setup, along with progress in Solar Power (Grid) and the National Green Hydrogen Mission, are positive steps, the urgent need is for easy and affordable credit.

He also stressed the importance of supporting the establishment of a Global Shipping Line for India, increasing funds for the MAI Scheme to achieve a USD 2 Trillion export target, and providing financial aid for the District as an Export Hub (DEH) Scheme.

According to Mr. Ahmed, these moves would not only help the export sector but also contribute to the growth of the fastest-growing economy, the Prosperous Bharat.

He hopes the new Government's regular budget will consider these factors.

(KNN Bureau)