Union Finance Minister Nirmala Sitharaman on Monday said that India is at a stage where despite the pandemic, it has to work on a two-track path – one which has a multimodal approach and is guided by PM Gati Shakti, and the other comprises the opportunities with startups and the sunrise sector.
Addressing a post-budget session ‘Implications of Union Budget 2022-23’, organised by PHDCCI here, she, about the multimodal approach, said that it needs to be ensured to have a synergy with every mode of transport and linkages with logistics to ensure that products reach their destination on time inside or outside the country.
“The young generation is coming up with various ideas, this has given us new returns and a mind to invest in these new minds. Compliances have been made easy and this will inspire the coming generation to do the business,” she added.
The Finance Minister said the emphasis has been put on public investment and infrastructure in budget with a lot of consideration with other stakeholders, and this will only result in crowding the private investment.
“This is an opportune time to invest as the corporate tax rate has been reduced to expand the horizon. India will be the fastest-growing economy this year and next year. India and the private sector need to work together as a team,” said Sitharaman.
“The budget has very rightly touched each and every segment of the economy. The government has undertaken structural reform measures to boost economic growth and make the country an Aatmanirbhar Bharat,” PHDCCI Vice President Sanjeev Agrawal said.