Gautam Singhania, Chairman & Managing Director, Raymond believes the Budget would boost India’s economic growth besides easing the process of doing business in the country. Singhania particularly appreciated the government’s decision to set up seven new textile parks under the under the Mega Investment Textile Parks scheme. The increased outlay on infrastructure would help India create a world-class infrastructure, he said. He also welcomed the government’s move to double the allocation for MSMEs to Rs 15,700 crore.
Singhania also hailed the government’s decision to introduce an alternate debt resolution mechanism and a special framework. The government also proposes to reduce the margin money requirement from 25 per cent to 15 per cent for startups.