Statement by Mr Chandrajit Banerjee, Director General, CII on Union Budget 2024-25

Union Budget provides continuity to India’s successful holistic economic strategy to drive growth with inclusion

The Union Budget 2024-25 takes forward the Government’s successful economic strategy of the previous two terms, led by investments and reforms and focused on inclusion and empowerment. The announcement on collaboration with States to take forward the next gen reforms with the twin objectives of employment generation and growth, is a welcome step.

Provision of Rs 2 lakh crore to facilitate employment, skilling and other opportunities for 4.1 crore youth over a period 5 years, will help empower India’s youth to partake in the India growth story. With an allocation of Rs 3 lakh crore towards schemes for women and girls, women led development remains a high priority. The three schemes announced under employment linked incentives (ELIs) are indeed welcome and are in line with CII recommendations. The initiatives such as setting up vegetable clusters, boost to digital public infrastructure for agriculture and boost to cooperatives, will empower the Indian farmers and help boost their incomes.

The nine priorities announced in the Budget with the objective of generating opportunities for all has set the stage for India to march towards a sustained high growth trajectory, which is essential to achieving the goal of Viksit Bharat.

New Delhi,
23 July 2024