Budget reflects India''s commitment to sustainable, self-reliant framework: TAFE

The budget presented by Union Finance Minister Nirmala Sitharaman on Sunday, reinforces India's commitment to a sustainable and inclusive growth, a top official of tractor manufacturer TAFE Ltd said on Sunday. The budget demonstrates strong ''fiscal prudence'' with clear commitment to consolidation and a fiscal deficit target of 4.37 per cent reaffirming the government's focus on the macroeconomic stability, TAFE Chairman and Managing Director Mallika Srinivasan said. ''The union Budget reflects the Finance Minister and the Government of India's commitment to a strong, sustainable, growth-oriented and self-reliant economic framework,'' she said in a company statement here. Public investment has been an anchor of India's growth story and it is encouraging to see the sustained and enhanced emphasis on capital expenditure, she pointed out. ''The continued push towards dedicated freight corridors, high-speed rail corridors and container manufacturing underscores the government's resolve to build world-class infrastructure that boosts long-term productivity and growth,'' she said. The vision of Viksit Bharat is translated into concrete measures to strengthen manufacturing in critical sectors such as rare-earth minerals, electronics and pharmaceuticals. This focus would deepen domestic value chain, enhance export competitiveness in strategically important sectors, she remarked. The range of schemes introduced to promote tourism, would support employment generation, regional development and the growth of allied sectors across the country, she added.