The annual budget presented by Union Finance Minister Nirmala Sitharaman is futuristic and addresses the growth prospects for the next 25 years. This is a budget for the present and next generations and it should be utilised by all the young minds in the right perspective, said CII-AP chairman D. Tirupati Raju.
He was delivering a talk on the budget at Dr. Lankapalli Bullayya College, here on Thursday.
He said that the budget was more like a vision document, and has given ample scope for the present generation to turn into entrepreneurs and in turn become employment generators.
The focus on infrastructure building through the PM Gati Shakti will be a gamechanger, as it focuses on sectors such as roads, railways and waterways. “Logistics is a key factor for industrial development and the budget pays adequate focusto this area,” he said.
Mr. Tirupati Raju also said that the time has come to think beyond traditional business. Even in the agriculture sector, there is a vast scope for startups, as value addition to product and logistic chains are the focus areas.
G. Madhu Kumar, secretary and correspondent of the college, explained the difference between cryptocurrency and digital money. He clarified that crypto is a form of asset that can be monetised, but it is not a currencywhile on the other hand, digital currency that the FM spoke about is going to be currency, which will be issued by the Reserve Bank of India (RBI). But the modalities are yet to be finalised and notified in fine print, said Dr. Madhu Kumar.
ICAI Visakhapatnam chapter secretaryPrashanth Kumar Pandaspoke aboutdirect and indirect taxes and their importance in the budget.
Speaking about the highlightsof the budget, he said that allocation in the education sector has been hiked by 18% and this would pave the way for development of more skill development centres and 200 digital channels.
