TIL Desk/Business/Washington/ A top American business advocacy group on Friday lauded the interim budget presented by Finance Minister Piyush Goyal, saying that the many positive elements in it will support consumer spending and economic growth.
Reaching out to a large electorate ahead of the Lok Sabha polls, the Modi government Friday announced a cash dole for small farmers, a mega pension scheme for the unorganised sector and doubled the threshold income tax exemption limit to Rs 5 lakh.
Minister Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
“We see many positive elements that will support consumer spending and economic growth, including a boost in defense and health spending as well as a renewed focus on digitisation of government processes as well as artificial intelligence,” US India Business Council (USIBC) president Nisha Desai Biswal told.
