New Delhi, Feb 1 (FN Agency) Hailing the Budget 2022, Tata Sons Chairman N Chandrasekaran said that it has continued the trend towards more productive expenditure. Chandrasekaran said that the Budget is consistent with Prime Minister Narendra Modi’s vision of making India Atmanirbhar: a digital superpower, a sustainability leader and a healthy nation. “This statement of intent is clearly supported by a plan for the future, and backed by allocations—specifically in the areas of infrastructure, digital transition, planet resilience, education and health—to support Indian ambitions,” Tata Sons Chairman said.
“Continuing down this path, it isn’t hard to imagine India becoming a digitally-forward, sustainable global superpower by the end of this decade,” he further said. Captains from India Inc has welcomed the Budget’s focus on infrastructure development by raising the capex target by almost 36% to Rs 7.50 lakh crore for the financial year 2022-23. Seeking to support growth, the Budget has estimated the fiscal deficit for FY23 at 6.4% of the GDP for the financial year ending March 2023. The revised Fiscal Deficit in the current year is estimated at 6.9% of GDP as against 6.8% projected in the Budget Estimates. “While setting the fiscal deficit level in 2022-23, I am conscious of the need to nurture growth, through public investment, to become stronger and sustainable,” said Finance Minister Nirmala Sitharaman while presenting the Budget on Tuesday.