London (PTI): Leading NRI group, Hindujas have hailed the Indian budget as one of "hope and change" and has suggested that the shortfall of resources for achieving 9 per cent growth can be bridged by allowing NRIs and other foreign investors to invest in the country.
The group Chairman Srichand P Hinduja said here that Finance Minister Pranab Mukherjee has presented a "confidence - building Budget of hope and change with focus on all inclusive growth."
Hailing the Budget as a "positive one," he noted that it has proposed higher allocation of funds for a number of development programmes for the benefit of the common man like the National Rural Employment Guarantee Scheme and extension of farmer debt waiver scheme, which he said would "fulfill the expectations under the political mandate".
While the direct tax proposals in the Budget were "revenue neutral," indirect tax measures will result in some gain, but the resources generated are not adequate to meet the social and infrastructure spending proposed, he said.
"The huge shortfall of resources for achieving 9 per cent growth can be bridged only by making the business environment attractive for foreign/NRI investors and Public- Private-Partnership," he said.
He suggested that investment friendly environment can be created by making the sanction process for infrastructure projects more transparent, ensuring Centre-State-co-ordination and simplifying procedures.
The group Chairman Srichand P Hinduja said here that Finance Minister Pranab Mukherjee has presented a "confidence - building Budget of hope and change with focus on all inclusive growth."
Hailing the Budget as a "positive one," he noted that it has proposed higher allocation of funds for a number of development programmes for the benefit of the common man like the National Rural Employment Guarantee Scheme and extension of farmer debt waiver scheme, which he said would "fulfill the expectations under the political mandate".
While the direct tax proposals in the Budget were "revenue neutral," indirect tax measures will result in some gain, but the resources generated are not adequate to meet the social and infrastructure spending proposed, he said.
"The huge shortfall of resources for achieving 9 per cent growth can be bridged only by making the business environment attractive for foreign/NRI investors and Public- Private-Partnership," he said.
He suggested that investment friendly environment can be created by making the sanction process for infrastructure projects more transparent, ensuring Centre-State-co-ordination and simplifying procedures.
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