'Growth oriented': Karnataka business body FKCCI welcomes Budget 2022

"The budget lays emphasis on industrial, educational, and health sectors. We welcome the announcement by the Finance Minister for the measures taken by the government to make MSMEs become more resilient and competitive," Prasad said in a statement.

Bengaluru: Federation of Karnataka Chambers of Commerce and Industry (FKCCI) on Tuesday welcomed the Union Budget presented by Finance Minister Nirmala Sitharaman saying the measures taken by the Central government will make MSMEs "more resilient and competitive".

President FKCCI, Dr I.S. Prasad said that Budget 2022 is an "all-inclusive growth-oriented budget". "The budget lays emphasis on industrial, educational, and health sectors. We welcome the announcement by the Finance Minister for the measures taken by the government to make MSMEs become more resilient and competitive," Prasad said in a statement.

While the budget shied away from giving any specific SOP to the common man, it has a lot of positive features for many sectors of the economy including start-ups and MSMEs, which would result in increasing the job opportunities significantly, he pointed out. The FKCCI president further said the budget provides an impetus for growth, guided by PM Gati Shakti, which is a transformative approach for economic growth and sustainable development.

READ:Union Budget Good for Growth, but lacks push on employment : RSS Body

"The approach is driven by seven engines namely roads, railways, airports, ports, mass transports, waterways, and logistic infrastructure, which is expected to pull forward the economy. These measures are expected to lead to huge job and entrepreneurial opportunities, especially for the youth," Prasad said.

He also welcomed the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme which is being revamped with a required infusion of funds. This will facilitate additional credit of Rs 2 lakh crore for Micro and Small Enterprises and expand employment opportunities. Prasad hailed the emphasis on agriculture, river linking projects, providing a comprehensive package for food processing with the participation of state governments, and helping the MSME sector to become more resilient, competitive, and efficient with the Emergency Credit Line Guarantee Scheme.