New Delhi: Sangita Reddy, President of FICCI said: “We saw a powerful multi-sectoral boost coming in from the government today. The clear focus on housing, infrastructure and construction shows that the government wants to leverage the huge multiplier impact these sectors have to rev up the economy that is already showing multiple signs of recovery.”
Describing the package as Diwali bonanza, Reddy said that the measures will lift growth, employment, exports and make India part of the global value chains.
The President of PHD Chamber of Commerce and Industry, Sanjay Aggarwal, said that the reforms will have a multiplier effect on the economic growth trajectory through enhanced demand, job creation, increased private investments, escalated exports and growth of sectors that have strong backward and forward linkages.
“The recovery in the key economic and business indicators on the back of series of stimulus announcements by the government in last 7-8 months, totalling to around Rs 29.9 lakh crore, will go a long way in our fight against the pandemic impact of Covid-19 on trade, industry and economy,” he said.
Niranjan Hiranandani, President of NAREDCO and ASSOCHAM said that the increase in differential limit between circle rate and agreement value has removed a major “stumbling block for price rationalization”.
