Budget in line with our quest for sustainable inclusive growth: FICCI Raj State Council

Jaipur, July 23 – The Union budget sets up the roadmap for nine priority areas for Viksit Bharat.

“The emphasis on skilling, infrastructure, MSME, and energy transition is in sync with our quest for sustainable and inclusive growth,” said Ashok Kajaria, Chairman, FICCI Rajasthan State Council and CMD, Kajaria Ceramics Ltd.

MSMEs form the backbone of Rajasthan’s industrial ecosystem and access to affordable finance is one of the key issues faced by them. The Credit Guarantee Scheme for MSMEs, new credit assessment model, credit support during stress period and reduction in threshold for onboarding in TReDS would be a great enabler in this direction, he added.

He also welcomed the reduction in customs duty on gold and silver to 6% and mentioned that it would help in increasing the cost competitiveness of the jewellery industry in the state. Safe harbour rates for foreign mining companies selling raw diamonds in the country would also help the industry, he added.

The state has a fairly developed Startup ecosystem and abolition of the angel tax would provide an impetus to the entrepreneurship and innovation. Continued focus on infrastructure through capex and long term interest free loan to states would have a multiplier effect on the development of infrastructure. The thrust on energy transition, green energy and local manufacturing of solar cells & panels provide opportunities to the state, he stated.