Union Budget Welfare-Oriented: Yusuffali M A


Thiruvananthapuram: The Union Budget presented by Finance Minister Arun Jaitley contains many commendable initiatives to make India a world economic power, Yusuffali M A, Chairman, LuLu Group, said in a statement.

He congratulated Prime Minister Narendra Modi and the Finance Minister for this ”encouraging welfare-oriented budget.”

This budget coming after the Demonetization step, looks like a game-changing one. Initiatives such BharatNet to connect rural headquarters and 100 per cent electrification of villages by 2018 are sure to give a big boost to our efforts to achieve a cashless and digital economy, he said.

”As a retailer I welcome the tax incentives given to digital transactions and POS equipment industries and limiting the cash transaction to Rs. 3 lakh which will not only help the vision of becoming cash-less but also make India a more transparent economy,” he said in his statement.

The announcement of five exclusive tourism-economic zones will have an all-round impact on many related industries especially for a state like Kerala, Yusuffali said.

Obviously, the huge enhancements in the allocations for agriculture, women welfare, infrastructural and rural development are sure to help our our country become the most-favoured destination for FDIs, he added.