Budget 2024: Hero Group's Sunil Munjal hails decision to work with multilateral agencies

Union Budget 2024: Hailing Finance Minister Nirmala Sitharaman for delivering a pro-industry Budget, Sunil Munjal, Chairman, Hero Group said that maintaining fiscal deficit at 4.9 per cent and projecting the next fiscals fiscal deficit at 4.5 per cent was a commendable job. "Not only has she announced that, she has said that the borrowing thereon will continue to drop as a percentage of GDP every year," Munjal said. 

He highlighted two key aspects of Tuesday's Budget- one as policy documents and the other being the intent of the government for the next five years.

"The Budget has tried to cover all the segments, across age groups. It aims to cover women, startups, youth, rural agriculture, and cities as economic entities. So overall, it is a very well balanced Budget," said Munjal. He said the Budget was growth-oriented, recognising the need to encourage jobs and encouraging youth to skill themselves in the joint business. 

"The Budget also encourages companies of government's support if they hire people," said Munjal. As per Munjal, the decision of the government to work with multilateral agencies to bring in money, was a welcome move. "But it must be assured that government-based agencies will provide the guarantee for those fundings. That was a very smart move and in some of the areas they expect the state government to pitch in as much as a centre does," added Munjal. 

Munjal said increasing the infra spends at Rs 12 lakh was on expected lines as this had already received a push in the interim Budget.

(Source: Republicbiz)