Industry body FICCI has said that Finance Ministry has offered a huge Diwali Bonanza that will lift growth, employment, exports and make India part of the global value chains. Commenting on the series of measures announced by the Finance Minister Nirmala Sitharaman yesterday to further stimulate the economy, FICCI President Dr Sangita Reddy said, package contained announcements for the stressed sectors, the sunrise sectors and other significant areas that will play a crucial role in making India strong and self-reliant. She said, the additional outlay of 18 thousand crore rupees for the PM Awas Yojana – Urban along with the income tax relief for developers and home buyers will ring in growth in the housing sector.
PHD Chamber of Commerce and Industry has also appreciated the bold economic reforms announced by the Finance Minister under AatmaNirbhar Bharat Abhiyaan 3.0. The President of PHD Chamber of Commerce and Industry, Sanjay Aggarwal said that the reforms will have a multiplier effect on the economic growth trajectory through enhanced demand, job creation, increased private investments, escalated exports and growth of sectors that have strong backward and forward linkages. He said, the recovery in the key economic and business indicators on the back of series of stimulus announcements by the Government in last 7 to 8 months will go a long way in the fight against the pandemic impact of COVID-19 on trade, industry and economy.