By: Mr. SANJAY JAIN, DIRECTOR, ELANPRO
New Delhi, 01 Feb, 2025: Expressing satisfaction with the comprehensive strategy outlined in the budget, Mr. SANJAY JAIN, DIRECTOR, ELANPRO, said, “We welcome the budget announced by the Honourable Finance Minister, which lays a strong foundation for inclusive and sustainable economic growth by focusing on agriculture, MSMEs, investment, and exports. The emphasis on Nari Shakti and support for startups is a positive step toward fostering entrepreneurship and innovation.
The recognition of MSMEs as the ‘second engine’ of growth, through enhanced credit availability with guarantee cover, will empower businesses to expand and innovate. Strengthening the MSME and startup ecosystem is crucial for industrial growth, including sectors like commercial refrigeration, which support various industries from food processing to healthcare.
Tourism as a major employment generator is another commendable focus. The Heal in India initiative will further boost medical tourism, while the emphasis on spiritual and religious destinations, including sites related to Lord Buddha, will enhance India’s global appeal. The development of the top 50 destinations, performance-linked incentives for states, improved travel connectivity, and streamlined e-visa facilities will significantly strengthen the hospitality and allied industries. Additionally, the modified UDAN scheme will improve regional connectivity, benefiting industries like ours that play a crucial role in supporting the tourism and hospitality ecosystem.
The budget’s provision for a tax rebate for incomes up to Rs. 12 lakh, with a benefit of Rs. 80,000 will provide relief to middle-income groups, boosting disposable income and driving overall consumption. This, in turn, will stimulate demand across key sectors of the food retail and hospitality industries that rely on efficient refrigeration solutions.
Overall, this budget takes a balanced approach to economic growth, job creation, and business sustainability. The measures outlined will strengthen industrial infrastructure, drive demand and consumption, and support India’s journey toward self-reliance and global competitiveness.”
