February 01, 2023

“The Union Budget for the financial year 2023-24 has laid the foundation for an Inclusive India during its Amrit Kaal. It has balanced the country’s growth objectives with those of equity and equality,” said Pradeep Mehta, Secretary General, CUTS International, a Jaipur-based global public policy think- and action-tank on trade, regulation and governance.

While giving his reactions on the Union Budget to financial reporters in New Delhi, Mehta argued that the Budget has balanced the imperative of capital expenditure with the necessity of fiscal consolidation without compromising the immediate requirements of the poor and the vulnerable such as free food grain for all Antyodaya households, construction of houses for the poor.

Citing a few proposals such as the setting up of a National Digital Library for kids and adolescents, 157 new nursing colleges, he added that “This Budget is not just for the next fiscal but for our future. While new nursing colleges will address our future needs for para-medical workers, National Digital Library will help our kids to better access knowledge, which is a critical component for skill development, particularly for new generation jobs.”

Emphasising the need for transforming the Indian agricultural into entrepreneurship and job creation in rural areas, he welcomed the setting-up of the Agriculture Accelerator Fund and urged the government to ensure its link with the Farmer-Producer Organisations, a flagship programme of the government under which 10,000 FPOs are being established all over the country.

While lauding the push for further developing critical transport infrastructure and in reducing compliances for doing business, Mehta urged the government to undertake next generation reforms in factor markets, as that would transform the Indian economy towards one of high growth and high-value with more jobs.

“Not just a National Competition Policy, for better future of India the country needs a comprehensive National Competitiveness Act as that can be a trigger for the generation of new jobs, skill development, and helping our companies establish strong presence in the entire spectrum of global value chains.”—

For further information please contact:

Amol Kulkarni, amk@cuts.org, +919929642313

Vijay Singh, vs1@cuts.org, +918076619084