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UK India Business Council welcomes Union Budget's focus on regulatory reforms, fiscal consolidation

The UK India Business Council (UKIBC) has expressed a positive outlook on India's Union Budget for 2024-25, highlighting its focus on regulatory reforms and fiscal consolidation. The budget aims to enhance the ease of doing business through measures like decriminalizing minor economic offenses, which is expected to reduce compliance burdens on businesses. UKIBC appreciates the government's commitment to fiscal discipline, with plans to reduce the fiscal deficit to 5.1% of GDP in the next fiscal year. Additionally, the budget's emphasis on infrastructure development, including a significant increase in capital expenditure, and initiatives in green growth, technology, and innovation, are seen as steps that will bolster India's economic growth and attractiveness to foreign investors. The council also noted the budget's efforts to support startups and MSMEs, which are crucial for job creation and economic dynamism.

Read the Full MSN Article at:
[ https://www.msn.com/en-xl/news/other/uk-india-business-council-welcomes-union-budget-s-focus-on-regulatory-reforms-fiscal-consolidation/ar-AA1yePJp ]