Budget 2022: CII gives thumbs up for FM Nirmala Sitharaman's budget

Welcoming the central focus on investing in infrastructure, urban development, digitalization, sustainability and handholding to sunrise sectors, the Confederation on Indian Industries (CII) has given a 'thumbs up' and termed the budget 2022-2023 as a roadmap for the county's development.

Reacting after the budget speech, Ramesh Ramadurai, Chairman CII, Karnataka chapter said the Union government has laid a roadmap for development through this year's budget. CII also welcomed the government's announcement on schemes and digital inclusion and its focus on 'ease of living'.

The government has not made much changes on taxes 'There are not many changes on direct or indirect taxes and pointed out that there were only minimal changes and this helped in doing business and this budget is a 'well-balanced' budget'. said Ramadurai.

WATCH: Ramesh Ramadurai, Chairman CII, Karnataka lauds ; calls it a 'balanced' one. pic.twitter.com/6a86d24guH

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The Finance Minister has announced that the total expenditure for the financial year 2022-2023 will be Rs 39.45 crores. From tax on income from virtual assets, launching of the digital rupee, the stress of increase of road length in Highways to boost the farm sector, are some of the highlights from Nirmala Sitharaman's budget speech.

She also highlighted the boost to the defense sector where now defense research and development will be opened to industries and startups and also private sectors.