FY27 budget 'development-oriented', an effort towards 'Viksit Bharat': MSME industry body

Micro, small and medium enterprises industry body IIA on Sunday hailed the governments focus on infrastructure, saying the budget for FY27 is development-oriented and is an effort towards realising the vision of Viksit Bharat. Union Finance Minister Nirmala Sitharaman, while presenting the annual budget for the coming financial year, proposed that seven high-speed rail corridors between cities will be developed as growth connectors.

Micro, small and medium enterprises industry body IIA on Sunday hailed the government's focus on infrastructure, saying the budget for FY27 is ''development-oriented'' and is an effort towards realising the vision of 'Viksit Bharat'. Union Finance Minister Nirmala Sitharaman, while presenting the annual budget for the coming financial year, proposed that seven high-speed rail corridors between cities will be developed as growth connectors. The proposed corridors include Mumbai-Pune, Pune-Hyderabad, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi and Varanasi-Siliguri. ''It is a development-oriented budget. This is a meaningful effort in realising the vision of Prime Minister Narendra Modi to make a 'Viksit Bharat', Deepak Bajaj, general secretary of IIA, told PTI. The government in the budget has paid attention to the farmers, MSMEs, the middle-income group, and green energy. An effort has been made in the budget so that India becomes a developed country, Bajaj said. The Indian Industries Association (IIA) has 13,500 MSMEs as its members. The latest budget has also proposed that 5 university townships will be created in the vicinity of major industrial and logistic corridors through a challenge route. And, through VGF/capital support, one girls' hostel will be established in every district. Besides, the budget also provides for the Biopharma SHAKTI with an outlay of Rs 10,000 crore to build the ecosystem for domestic production of biologics and biosimilars over the next 5 years. Initiatives like university townships, girls' hostels in every district, and the 'Biopharma SHAKTI' are significant milestones in preparing youth for global competitiveness, said Piyush Singh Chauhan, Vice Chairman of Lucknow-based S.R. Group of Institutions. He termed the Union budget as a ''visionary step that bridges the gap between education and employment and further strengthens the resolve of a self-reliant India''. In the budget, the finance minister also proposed the setting up of 3 new All India Institutes of Ayurveda. Founder of HiiMS Hospital, a private Ayurveda hospital in Lucknow, Acharya Manish, said that the renewed focus on Ayurveda reflects a decisive move towards preventive and integrative healthcare. ''Strengthening research, standardisation, and infrastructure for traditional medicine will elevate Ayurveda's global credibility while driving innovation and employment. This budget positions India to lead the world in sustainable, patient-centric health solutions,'' Acharya Manish said. Lucknow-based businessman Rahul Aggarwal, who is the MD of Jashn Realty, said that the infrastructure and tax reforms for the real estate sector is a positive step. ''We believe this budget will strengthen long-term development and move the country closer to the goal of 'Housing for All','' Aggarwal said.

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