New Delhi: FICCI vice chairman Subhrakant Panda on Monday mentioned that Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) outlay ought to be elevated and assist to micro, small and medium enterprises (MSMEs) have to be supplied within the union price range.
“We are expecting a higher MGNREGA outlay and a similar scheme for the urban poor. It is very important to provide support to MSMEs, which have been affected by pandemic and are clearly the job-creating machine of the economy,” Mr Panda mentioned.
Attention is required for sectors like tourism and hospitality as they’ve been affected by the pandemic, he added.
“As far as recovery is concerned, it is important to put money in the hands of consumers. thereby leading to spending and demand generation. What we feel is that the government should maintain its focus on spending until such time that private sectors kick in,” he added.
“Finally, under the reforms agenda, there has been commendable work done towards ensuring ease of doing business. As far as reforms are concerned, measures like PLI schemes which have provided a fillip to manufacturing in the country, “Make in India” and “Atma Nirbhar Bharat” should continue,” he acknowledged.
The FICCI vice chairman mentioned that focus must also be on analysis and growth (R&D) and innovation.
“Finally, I think green technology should get support because that is clearly the future and India has been a leader in this field,” he added.
“I have no doubt that there will measures to support economic recovery (in the budget), especially at a time when the third wave has impacted the economy,” he acknowledged.