Monday , July 15 2024

Union Budget 2024-25 on expected lines : IIA

Lucknow (Telescope Today Correspondent). The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman was listened to carefully by the officials of the Indian Industries Association (IIA) at the Central Office, Lucknow, National Office, Delhi and all the Chapter Headquarters.
National President IIA Mr. Neeraj Singhal, Senior Vice President Mr. Dinesh Goyal, General Secretary Mr. Alok Agarwal and National Treasurer Mr. Awadhesh Agarwal viewed the budget speech along with various industrialists and experts in Ghaziabad, Bareilly, Kanpur and Lucknow respectively.
National President IIA Mr. Neeraj Singhal while giving his reaction on the budget said that this interim budget was as per the expectations of IIA because we were not expecting any major changes in it. Nevertheless, according to the announcements made by the Finance Minister, IIA welcomes the government’s vision of making the country a developed India. IIA also supports the new definition of GDP “Governance, Development & Performance” given by the Finance Minister in the budget speech because only through this can the dream of a developed India come true. In this definition, for the government to give “performance”, it is absolutely necessary that the government should listen to the voices and problems of the people on the ground and prepare a platform to receive effective feedback, Mr. Singhal said. Because only when the voices of the public and entrepreneurs are heard and analyzed openly, Reform, Perform and Transform will happen and “Governance, Development & Performance” will be visible in the true sense.
IIA also welcomes the addition of Jai Anusandhan with Jai Jawan, Jai Kisan and Jai Vigyan. The long-term corpus of Rs 1 lakh crore for research will pave the way for making innovative products which will create new opportunities for industrialization and developed Bharat.
Indian Industries Association is determined to make India developed under its mission IIA 2.0 and Transforming MSME Towards 4.0, said National President IIA Shri Neeraj Singhal.

IIA also welcomes the Government’s efforts to promote green energy to meet the commitment of Net Zero by 2070. This will provide new business opportunities to the MSMEs of the country which include future technologies like bio-degradable plastic hydrogen etc. With the announcement of installing solar roof tops in one crore houses and building 2 crore houses, the MSME sector will get new opportunities in manufacturing, installation and services Mr Dinesh Goel, Senior Vice President IIA Said.
IIA welcomes what the Finance Minister said about tax reforms. Since it was an interim budget, we were not expecting any change in the tax structure, but it is necessary that like Income Tax, faceless system should be implemented in GST at every level of the Government said Mr Alok Agarwal, General Secretary IIA.
Shri Awadhesh Aggarwal National Treasurer said that the government’s announcement of withdrawal of direct tax demand of up to Rs 25,000 till the year 2010 and demand of Rs 10,000 from the year 2011 to 2015 is a welcome step. While this will provide relief to tax payers, it will also reduce the workload on the government machinery.
Mr. Awadhesh Aggarwal, National Treasurer, Mr. Sanjay Kaul, Mr. V.K. Agarwal, Mr. G.C. Chaturvedi, former President IIA, Mr. Rajeev Bansal, Lucknow Division Chairman, Mr. Vikas Khanna, Lucknow Chapter Chairman and Mr. Rajesh Tiwari Barabanki Chapter Chairman were present at IIA Head Office, Lucknow to witness the budget speech of Finance Minister .
During the conversation with the media, the above IIA officials told that the focus that the government is going to give on Railways, Energy, Airports, Housing, Tourism, Food Processing and Green Energy in the budget will reduce unemployment in the country, new opportunities will be created for MSMEs and the country’s economy will improve.