NSE CEO praises Union Budget 2024 for boosting job creation, startup ecosystem, and women participation in labor force without major tax changes.
Ashishkumar Chauhan, MD and CEO at National Stock Exchange (NSE), said that the Union Budget 2024 presented by Finance minister under the Modi 3.0 government “has given a huge fillip to job creation in India by ensuring that the private sector also participates in job creation in addition to the government sector while ensuring that India becomes the number 1 start up nation and a nation of entrepreneurs by providing relief on the angel tax as well as increasing Mudra loan scheme limit from ₹10 lakhs to ₹20 lakhs per person.”
Union Finance Minister Nirmala Sitharaman addresses a post-Budget press conference, in New Delhi.(PTI)
Praising Nirmala Sitharaman, Ashishkumar Chauhan said, “She focused on increasing women participation in India’s labour force which will help India reap demographic dividend even further by increasing young women’s participation in the workforce. Skill development as a part of job creation has been also an out of the box idea from her while keeping infrastructure outlay intact and reducing fiscal deficit at 4.9% from the expectation of 5.1%.
In what way could Nirmala Sitharaman’s Budget impact India’s credit rating?
He added, “All these things are being achieved without much tinkering with the direct or indirect tax structure ensuring that India’s long term credit rating improves by giving a glide path to 4.5% fiscal deficit in 2025-26.”
This comes at a time when S&P Global revised India’s credit rating to ‘BBB-/A-3,’ which is an upgrade from ‘stable’ to ‘positive,’ on account of improved quality of public spending over the last 5 years.
Out of 10, what’s the score for Nirmala Sitharaman?
