Budget to bring back economic growth momentum, says Ficci president

The Budget offers huge relief to exporters with the introduction of a new scheme for reversion of duties and taxes on exported products

The Union Budget 2020-21 presented by Finance Minister Nirmala Sitharaman is pragmatic and sends out positive signals for bringing back growth momentum in the economy. Reviving rural economy is crucial to uplift growth, and the 16-point action aid provided in the Budget to agriculture, allied sector and rural economy, with an allocation of Rs 2.83 trillion, should help raise rural income and drive consumption.

Consumption growth is also expected to be driven by the new personal income-tax regime structure being offered to individuals who opt out of various exemptions. This lower tax regime is expected to leave more income in