General budget will help India to build $5000 billion economy: USISPF

The US-India Strategic and Partnership Forum (USISPF), praising the General Budget 2021-22 presented on Monday by Finance Minister Nirmala Sitharaman, described it as bold and visionary, which will propel the economy on a path of growth.

Helpful to build $5,000 billion economy

USISPF President Mukesh Aghi said, ‘We appreciate India’s budget. It is a bold step to take the economy on the path of growth. The budget is helpful in making India a $5,000 billion economy. He said that the budget kept in mind the needs of all sectors of the economy and increased government spending in key sectors of the economy such as agriculture, infrastructure, healthcare, education and defense.

Global investor community will become a partner in India’s growth

He added, “We believe that the disinvestment of public sector undertakings as well as opening up sectors such as insurance and establishing an institutional framework for the corporate bond market will greatly benefit the economy.” He said that the USISPF is confident that the global investor community will participate in India’s growth in the next 12 to 24 months.

The Boston-based India-focused Chamber of Commerce said that increased spending on healthcare in the general budget will move India towards a healthier country and the emphasis on infrastructure will drive growth and generate employment. Karun Rishi, president of the USD India Chamber of Commerce, said the finance minister did a remarkable job in presenting a growth-focused budget amid the outbreak of the Covid-19 pandemic and is a transparent budget.

Referring to the spectacular performance of the Indian cricket team in difficult conditions in Australia, Finance Minister Nirmala Sitharaman said that after the Corona epidemic, India is truly ready to be a land of possibilities and hopes in the world. Presenting the budget for FY 2021-22, the Finance Minister said that as happened after the two world wars, there are signs that political, economic and strategic relations are changing in the post-Corona world. This moment in history is the beginning of a new era.

She said that there are two vaccines available in the country and they are not only protecting their citizens from Covid-19 but also providing it to 100 more countries. She said that it is a relief that two more vaccines are expected soon.