Policy

PHD Chamber’s analysis of Union Budget 2021-22, everything you need to know

The budget very well recognises the significance of improving healthcare sector in current times, as it outlays a total of over Rs 2.33 lakh crore for healthcare sector, said PHD Chamber
PHD Chamber’s analysis of Union Budget 2021-22, everything you need to know
PHD Chamber’s analysis of Union Budget 2020-21, everything you need to know (Representative image: Shutterstock)

The PHD Chamber of Commerce and Industry has termed Union Budget 2021-22, tabled in the Lok Sabha today, as historic and congratulated Finance Minister Nirmala Sitharaman for considering the aspirations of all sections of the society for the improvement of standards of living and ease of doing business in industry across the segments.

The focus of budget on six pillars, including Health and Well-Being, Physical and Financial capital and infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and Research & Development, and Minimum Government, and Maximum Governance is highly encouraging and would go a long way to build a New India, said, Sanjay Aggarwal, President, PHD Chamber, in a press statement today.

We appreciate the counter cyclical fiscal policy adopted by the Government to rejuvenate the economic growth and development in the country with increased fiscal deficit for the year 2021-22 at 6.8 percent. We are hopeful that the fiscal consolidation be in line by 2025-26, said Aggarwal.

The budget very well recognises the significance of improving healthcare sector in current times, as it outlays a total of over Rs 2.33 lakh crore for healthcare sector, said Aggarwal.

It is highly appreciable that the focus of the budget is to strengthen the vision of Nation First, doubling farmers’ income, strong infrastructure, enhancing women’s empowerment, promoting healthy India, bring in good governance, education for all, inclusive development of all, added Sanjay Aggarwal.

The announcement of Rs 2,83,846 lakh crore for health and wellness sector including Rs 35,000 crore for COVID-19 vaccines is highly inspiring, said Sanjay Aggarwal.

The introduction of the PM Aatmanirbhar Health Yojana with an outlay of Rs 64,180 crore over six years and proposal to set up 15 Health Emergency Centres will go a long way to strengthen the National Centre for Disease Control in the country, said Sanjay Aggarwal.

The completion of projects worth Rs 1.1 lakh crore under the National Infrastructure Pipeline and further expansion in the same to 7,400 projects is highly commendable, said Aggarwal.

Government’s decision to set-up a Development Finance Institution (DFI), capitalised with Rs 20,000 crore to launch the National Asset Monetisation Pipeline to fund new infra projects is highly appreciable and is in line with the suggestions of PHD Chamber. This will help increase the funds for infrastructural investment in the country and will in turn provide a multiplier effect to boost demand and rejuvenate overall economic growth trajectory, said Sanjay Aggarwal.

It is appreciable that the Indian Railways has prepared a national railways plan by 2030, with the aim to bring down the logistics cost. This is crucial to bring down the cost of doing business in the country, said Sanjay Aggarwal.

The outlay of Rs 1.18 lakh crore for Ministry of Road Transport And Highways will help enhance the connectivity in the country as well as increase employment opportunities for the growing young workforce, said Sanjay Aggarwal.

We look forward to a strong growth trajectory with continuous focus on the reforms, said Aggarwal.

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