The impact of the Union Budget 2024 on inclusive growth and the business climate has been widely regarded as positive. Mr. Darshan Hiranandani, Founder of NIDAR Group, has praised the budget for its role in driving inclusive growth and fostering a favorable business environment in India. He believes that the strategic objectives outlined in the budget provide a solid foundation for a stable and equitable economic environment.
The budget's reputation as a catalyst for inclusive development stems from its focus on key sectors that drive the economy. By prioritizing comprehensive GDP growth, the government aims to ensure that the benefits of economic progress are extended to all segments of society, in line with the motto of "Sab ka Saath, Sab ka Vikaas."
Hiranandani highlights the budget's fiscal consolidation target of 5.1%, which effectively reduces borrowing costs for businesses. This, in turn, stimulates economic activity and establishes a strong financial footing for the country.
Initiatives such as the expansion of the Pradhan Mantri Awas Yojana (PMAY) program to rural areas further contribute to the goal of inclusive growth. By addressing the housing needs of the urban poor and promoting social and economic development, this action aligns perfectly with the objective of "Housing for all."
Overall, the Union Budget 2024 is seen as a powerful tool for fostering a prosperous and inclusive economic climate. India's commitment to comprehensive development is evident through the strategic allocation of resources, emphasis on social reforms, and support for key sectors that pave the way for economic success for all, rather than just a privileged few.
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