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Budget News

  • Necessary to strengthen our manufacturing sector says Finance Minister
  • January 28,2023  13:10
  • Nirmala Sitharaman, Minister of Finance & Corporate Affairs, Govt of India recently stated that the upcoming Union Budget will follow the spirits of the earlier budgets. We are not only going to set the template which were set earlier but follow it and take it further for India's next 25 years, she noted. Addressing the inaugural session of 'FICCI's 95th Annual Convention and AGM', Sitharaman added that there is a need to further strengthen the Indian manufacturing sector along with exploring newer areas of the service sector. It is necessary to strengthen our manufacturing sector and in that Indian start-ups have shown us the way by bringing more innovation. I would urge the industry to keep close watch on the innovations coming from the start-ups. The manufacturing sector can benefit from the new energy of the start-ups for all sectors including the sunrise sector, Sitharaman added. Speaking on the global uncertainties, the Finance Minister urged the Indian industry to focus on the opportunities arising from them. The suspected long drawn recession which is likely to affect in West will not just impact your (industry) exports but it gives us an opportunity for many of the investments which are now looking for a different place from where the activities can continue to happen. It is the best time for the Indian industry to work on strategies for drawing those manufacturers to India, she added.

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