Goa, July 23, 2024 – The President of the Goa Chamber of Commerce and Industry (GCCI), Mr. Shrinvas Dempo, has praised the recently announced budget, describing it as growth-oriented and well-outlined. According to Mr. Dempo, the budget sets a comprehensive roadmap for the next five years and aligns with the vision of Viksit Bharat 2047.
The government has demonstrated fiscal prudence while prioritizing employment-linked incentives, skilling, MSMEs, and the middle class. These measures are expected to drive economic growth and development across the country.
One of the significant highlights of the budget is the focus on tax proposals aimed at improving the ease of doing business and reducing litigations. Key measures include simplifying the Income Tax Act of 1961 and rationalizing direct and indirect taxes. The abolishment of Angel Tax is particularly noteworthy, as it is expected to boost entrepreneurial spirit and support innovation.
Goa, in particular, stands to benefit from the skilling initiatives, employee-linked incentive schemes, and ease of doing business initiatives outlined in the budget. These measures are anticipated to enhance the local economy and create new opportunities for growth and development.
Overall, the budget aims to set a clear path for India’s future growth and development, positioning the nation towards achieving its long-term vision of Viksit Bharat 2047.