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US corporate sector welcomes India’s Budget

Newdelhi:6/7/19:American corporate sector has hailed the maiden Budget of Finance Minister Nirmala Sitharaman, noting that it is not only inclusive but also attractive for foreign investments.

President of US India Strategic and Partnership Forum (USISPF) Mukesh Aghi said the budget opens up the Indian market and encourages US companies to invest more, at the same time it ensures prosperity and growth for the lower sections. He said the budget is trying to make positive structural changes.

US India Business Council president Nisha Desai Biswal said budget delivers a forward-looking and reform-minded approach for the Modi government’s second term.

She said, Goals like transforming India into a global space and aviation hub also demonstrate the longer-term thinking of the new government.

US-India Chamber of Commerce President Karun Rishi said
the mission to provide housing to all by 2022 has the potential not just for growth in downstream sectors such as cement and steel but also for overall job creation in these vital industries.

He said the budget strikes a reasonable balance between addressing the objective of inclusivity and laying the path for Prime Minister Modi’s vision of a 5 trillion dollar economy by focusing on infrastructure spending incentivising affordable housing and providing growth capital for PSU banks.

Rishi said, setting up the National Research Foundation (NRF) chaired by Prime Minister Narendra Modi and co-chaired by Principal Scientific Advisor K Vijay Raghavan to fund, coordinate and promote research in India will be a game changer.

Singapore Bank said the Budget marks a sense of continuity but also carries winds of change.

In her reaction to Union budget, Radhika Rao, Economist at DBS Group Research says, the broader fiscal consolidation path was adhered to along with a continuation of emphasis on improving infrastructure and welfare construct.

About monetary policy, she said, as the government maintains fiscal restraint, this reinforces the view that another 50 basis points cuts are likely in rest of the current fiscal.

About Ashok Palit

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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