India’s apex chambers of commerce, corporate world and healthcare sector have termed the Union Budget 2022-23, presented in Parliament by Finance Minister Nirmala Sitharaman today, as ”balanced, pragmatic and promising”.

Confederation of Indian Industry (CII) welcomed the decision to extend ECLGS upto March 2023 and increase in guarantee cover to Rs 5 lakh crore. “Emphasis on hospitality will bring a lot of relief,” the CII said.

In a series of tweets, the CII further said that it appreciates the announcement of the Telemental Health Programme and opening of 23 dedicated Mental health centres across India, in partnership with NIMHANS and IIIT.

The use of Kisan drones for Crop Assessments, digitization of land records and delivery of crop nutrition is a much-needed move for making Indian agriculture globally competitive, it said.

“It is encouraging to note the new PPP scheme for delivery of digital and HighTech services to farmers, involving all key stakeholders. This is a game changing move,” the CII said.

Subhrakant Panda, Senior Vice President, FICCI, said extension of ECLGS scheme till March 2023 and enhancement of 50k crores exclusively for MSMEs in hospitality and related areas is very welcome; it was a key issue highlighted by FICCI in its pre-budget memorandum.

“Welcome announcement of EoDB 2.0 & ref to trust based governance. Measures like digitisation of manual processes, integrating Centre/State interface & expanding scope of single window portal for green clearances will go a long way,” Panda said in a tweet.

ASSOCHAM welcomed the Finance Minister’s decisions to focus on Green Energy and reducing logistics costs as pushed by India’s industry body at COP26.

In a series of tweets, the country’s industry body further welcomed Sitharaman’s decision of extending the Emergency Credit Linked Guarantee Scheme (ECLGS) as per the suggestion by ASSOCHAM to support the MSME segment.

ASSOCHAM said Sitharaman has outlined the vision to boost the growth of MSME’s in 2022-23.

The Finance Minister has announced major reforms in the healthcare sector as expected by ASSOCHAM in its pre-budget reports, the country’s industry body further said.

Pradeep Multani, President, PHD Chamber of Commerce and Industry has congratulated the Finance Minister, for presenting a pragmatic and promising budget for Aatmanirbhar Bharat.

“It is highly encouraging that the Union Budget seeks to lay foundation and give blueprint of economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100,” Multani said.

“Effective capital expenditure of the Government is estimated at Rs 10.68 lakh crores in 2022-23, about 4.1% of GDP, revised fiscal deficit estimated at 6.9% of GDP as against 6.8% in Budget Estimates and fiscal deficit for FY 2023 is estimated at 6.4%. We are hopeful that fiscal consolidation will be in line in the coming years,” Multani further said.

“We appreciate that the PLI Scheme in 14 sectors has received excellent response ‘Make In India’ can create 6 million new jobs seek to lay foundation for the next 25 years,” he said.

Welcoming the Budget, Mahindra Group Chairman Anand Mahindra in a tweet said, ” Brevity has always been a virtue. @nsitharaman‘s shortest budget address may prove to be the most impactful…”

Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited – Asia’s leading Biopharmaceuticals enterprise, has termed the Union Budget presented by the Finance Minister in the Parliament as a “balanced” one.

In a tweet, she said, “Fiscal prudence and business ease has been the theme. 35% increase in capital expenditure will drive infra n jobs – Positive rhetoric with no negative surprises = balanced budget.”

Other industry experts have also welcomed the Budget proposals such as the inclusion of Post Offices in the core banking system customers and promotion of chemical free natural farming to boost sustainable agriculture productivity.

Vineet Tyagi, Global CTO, Biz2X said the Government’s aim to spread digital banking services to remote areas in India is a welcome move.

“The Finance Minister proposes the inclusion of Post Offices in the core banking system customers. With this, Post Office account holders will be able to make online transactions and even transfer money to other bank accounts through net banking. This will be beneficial especially for farmers, senior citizens and SMEs in rural areas, enabling interoperability, and financial inclusion,” Tyagi said.

“Acknowledging Digital rupee is a great acknowledgement by Government and is a massive digital boost. It will promote fintech and technology-based development which is a much needed push. The use of technology in every important project is the key highlight of this year’s budget and an epitome of ‘Naya Bharat’,” Tyagi added.

Anuj Kumbhat, Founder and CEO, WRMS said, “The Union Budget 2022 promotes chemical free natural farming to boost sustainable agriculture productivity and income of farmers that will help WRMS align its services better and explore our utmost potential while providing farmers with high-end sustainable agriculture services progressively throughout the country. The
budget also brings in picture a comprehensive package of participation of state governments and MSMEs to help farmers adopt natural farming practices; tremendously helpful for us to promote sustainable agriculture at a better pace.”

Healthcare experts have also welcomed the Budget proposals made such
as the announcement of the launch of the National Telemental Health Programme.

Dr Sangita Reddy, Joint Managing Director, Apollo Hospitals Group, thanked the Centre for announcing the launch of the National Tele Mental Health Programme in the Budget.

In a tweet, she said, “Thank you PM @NarendraModi Ji & FM @nsitharaman Ji for announcing launch of Natl Tele-mental Health Prog in #AatmaNirbharBharatKaBudget This will ensure quality #MentalHealthAwareness & counseling for all.”

Dr Ramesh Kancharla, Chairman and Managing Director, Rainbow Children’s Hospital said, “We are happy with the announcement of the Digital Health Eco System which will go a long way in providing a national registry of the healthcare infrastructure of the country. This will improve transparency and information flow of key healthcare parameters across the country.”

“Given the challenges in mental health thrown up by the pandemic, the National Tele Mental Health Programme is another welcome step. India has managed the pandemic phenomenally. The size of the country and the demographic distribution are unique challenges that have been managed through one of the largest vaccination programmes in the world. Also the effective use of technology through the Cowin and Arogya Setu App have helped in identifying, tracing and managing Covid cases,” the Chairman and Managing Director, Rainbow Children’s Hospital added.

Dr Tausif Ahmed Thangalvadi, Medical Director, NURA, said, ” We see budget 2022 as a positive step in the right direction for the healthcare sector with the roll out of National Digital Health Ecosystem which is an open platform, consisting of digital registries of health providers and health facilities.  Unique health identity and universal access to health facilities, with the National Tele Mental Health program will go a long way towards ensuring better healthcare and treatment options.”