Kolkata-based industrialists welcome Union Budget for 25-26
01-Feb-2025 04:47 PM 3734
Kolkata, Feb 1 (Reporter) City-based industrialist and Chairman of Ambuja Neotia Group Harshavardhan Neotia reacting to the Union budget on Saturday said the budget proposals have provided the vision of a new India story, with a governance that is light touch and trusting, a regulatory regime that is encouraging for industry and policies that are focused on job creation. The incentives for hotels, travel, and tourism are encouraging as they help build hotels in key 50 destinations and allow benefits on funding from the infrastructure HML. The built-in collaboration with state governments in the design of the policy will help speed up these developments. There are many other boosters for the tourism eco-system in the budget proposals, including easing regulations on e-visa or providing more impetus to the Udaan Scheme, incentives to spiritual tourism, and medical tourism," he maintained. Overall it is a growth and consumption-oriented budget with more money left in the hands of the consumers through tax cuts which will help consumer oriented sectors. Managing Director of Jupitar International Alok Garodia said the Budget reinforced the government's commitment to sustainable growth and clean technology manufacturing, with a decisive push for self-reliance on renewable energy through a new cleantech mission under Make in India. "This initiative will be instrumental in building a strong domestic ecosystem for solar manufacturing, reducing import dependency, and positioning India as a global leader in renewable energy. Jupiter International fully supports this vision and remains committed to expanding solar manufacturing in alignment with the country’s clean energy goals,” he added. Chairman of Merlin Group Sushil Mohta said the budget laid the groundwork for sustained economic growth, with several provisions impacting the real estate sector. The increase in the income tax exemption limit to Rs 12 lakh and the higher TDS threshold on rent (from ₹2.4 lakh to ₹6 lakh) are expected to enhance disposable income, drive housing demand, and boost overall consumption...////...
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