Budget Boosts Economic Optimism in Jharkhand: Arun Prakash

CII official lauds growth-centric fiscal plan

Government’s financial roadmap garners praise for its focus on infrastructure, MSMEs, and tax reforms.

JAMSHEDPUR – Local industry leader commends the latest budget for its potential to drive economic progress.

The recent budget announcement has received a positive reception from Jharkhand’s business community.

Arun Prakash, a key figure in the Confederation of Indian Industry (CII) Jharkhand, has expressed approval for the government’s fiscal strategy.

The planned reduction in fiscal deficit from 5.1% to 4.9%, with a future target of 4.5%, has been highlighted as a promising sign.

"This budget demonstrates a clear commitment to fostering economic growth," Prakash remarked during a recent press briefing.

The allocation of Rs 11 lakh crore for infrastructure projects has been particularly well-received by industry experts.

Small and medium enterprises are set to benefit from enhanced Mudra loan limits and a new collateral-free loan scheme.

Tax reforms, including a review of the Customs Act and an amnesty scheme for direct taxes, have been praised for their potential to ease business operations.

Changes in personal income tax, such as an increased standard deduction, are expected to provide relief to citizens.

The budget’s emphasis on technological innovation and sustainable development has reinforced confidence in the government’s economic vision.