NEW DELHI: Minister of Finance Nirmala Sitharaman on Saturday urged the Indian industry to invest and start a virtuous cycle to encourage growth, emphasizing that the budget strategy to encourage high capital expenditure aims to support recovery and crowd in personal investment through infrastructure development.
“There is a great opportunity for the Indian industry to invest in the sunrise and new sun sector.
We invite the industry to partner with the government in these fields, to lead #India to a higher growth path,” said Sitharaman while overcoming the National Council Meeting of the Industrial Confederation India (CII).
“I called the Indian industry to participate in the virtuous cycle of investment so the opportunity to encourage #India to higher growth orbit when moving to India @ 100 did not disappear,” said Sitharaman.
FM said the government had extended the interests of the lower corporate tax rates to new manufacturing units with one more year, until March 2024 and there were many sunrise sectors where India had led, such as vaccines, genomics, atomic and Indian spaces had proven their skills in adoption Digital and start-up are power that allows for innovation and new ideas.
“The corporate sector should not lose this opportunity for higher growth,” the Minister of Finance said.