He said Prime Minister Narendra Modi's government unveiled its first budget of structural reforms that seek to revive growth, and sets the target of achieving 7-8% growth rate in next three years. The budget stressed the need to revive growth in manufacturing and infrastructure sectors to create more employment opportunities.
He lauded that it is highly encouraging that Government has taken initiative to create a conducive eco system for the venture capital in the MSME by proposing to establish a Rs. 10,000 crore fund to act as a catalyst to attract private Capital by way of providing equity, quasi equity, soft loans and other risk capital for start-up companies.
It is a welcome measure that the government was committed to provide a stable and predictable taxation regime that would be investor friendly and it spur growth, he added.
