FM to industry: Invest in sunrise sectors and power growth

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NEW DELHI: Finance minister Nirmala Sitharaman on Saturday urged the Indian industry to invest and kick off the virtuous cycle to push growth, asserting that the Budget strategy to push high capital expenditure was aimed at supporting the recovery and benefit from the multiplier effect and crowd in private investments through the building of infrastructure.
“There exists an immense opportunity for the Indian industry to invest in sunrise and new-age sectors. We invite the industry to partner with govt in these areas, to lead #India to a higher growth trajectory,” Sitharaman said while addressing the national council meeting of Confederation of Indian Industry (CII).
“I call upon the Indian Industry to participate in the virtuous cycle of investments so that the opportunity to push #India to a higher growth orbit as it moves to India@100 is not lost,” said Sitharaman.
The FM said the government has extended the benefit of lower corporate tax rate to new manufacturing units by one more year, till March 2024 and there are many sunrise sectors where India has taken the lead, such as vaccines, genomics, space, atomic energy and India has proven its prowess in adoption of digital and the start-ups are an enabling force for innovation and new ideas. “The corporate sector should not lose this opportunity for higher growth,” said the finance minister.

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