APN News

  • Friday, April, 2020| Today's Market | Current Time: 01:59:12
  • Mr Krish Iyer President & CEO at Walmart India 

    “I would like to applaud PM Modi and FM Nirmala Sitharaman for an inclusive Budget 2019 which has proposed a slew of measures for every sector and strata to bridge the divide between India and Bharat. It unveils the roadmap to Prime Minister’s dream of $ 5 trillion economy reinvigorating the hopes of urban and rural consumers alike. It is also great to see the focus on Make in India with creation of FPOs, ease of financing for MSMEs, supporting role of women in India’s growth story, incentives for digital payments, pension for small traders/kiranas, among others.

    A pro-farmer budget, the decision to promote Zero Budget Farming and create 10,000 new farmer producer organizations will boost market access to farmers thereby achieving the goal of doubling farmers’ income by 2022. At Walmart India we’re committed to source 25% of our produce directly from Farmers and FPOs.  It is great to see focus on Make in India, with significant measure to allocate Rs 350 crores for 2% interest subvention for GST-registered MSMEs on fresh or on incremental loans. This will bring new hope for MSMEs as well as for startups.

    Expanding pension benefits to more number of retail traders and shopkeepers under Pradhan Mantri Karam Yogi Maan Dhan Scheme is a commendable step towards the welfare of the trader community and enable kiranas to prosper. SHG Interest Subvention Programme extension to whole India, in order to further encourage women entrepreneurship and increase their role and participation in India’s growth story is laudable as it is empower them economically. Tax relief to common man by exempting tax for income till Rs 5 lakh is a sincere effort towards putting huge resources in the hands of common man which will drive income and overall consumption.

    Budget 2019  has touched upon all the focal points that will spur infrastructure growth, boost digital economy and job creation to make India a $3 trillion economy by the end of current fiscal year.”

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