Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
Budget 2022-23 more directional with long-term growth, says Piyush Goyal.
Feb 08, 2022
Stating that the budget 2023 is more directional with a quarter of a century of sustained growth in mind, Commerce and Industry minister Piyush Goyal on Saturday sought to deflect criticism in certain quarters that the government focused more on the supply-side than on growth-boosting demand side of the economy.
On February 1, the government presented a budget with no tax increases and thus no new revenue generation measures but chose to do record borrowings to fund a budgeted 35 per cent increased capital investment at Rs 7.5 lakh crore and also offered an additional Rs 1 lakh crore to the states for capital investment in interest-free loans. Together with the states, the overall capital expenditure next fiscal will be at a record high of Rs 10.5 lakh crore. This will have the government borrowing hitting a historic high with gross borrowing at Rs 14.95 lakh crore and net borrowing of Rs 11.6 lakh crore.
Demand has been the biggest missing link in the economy even before the pandemic hit the nation and scuppered the last strain of demand as those who had money chose to save and not splurge while tens of millions became jobless. 'I am surprised at the criticism in a section of the industry that the budget is supply-side focused while what was more needed was boosting demand. The fact is that this is a direction setting budget, with clear focus on the macro as well as micro issues plaguing the economy. Such a focus will lead to faster and deeper trickle-down effect. Because through this budget, government wants to work towards a much brighter future for everyone by the time we celebrate the first century of our independence,' Goyal told a post-budget gathering of industry representatives organized by the BSE.
Those criticizing the budget are missing the key point that most of the time supply side push also creates demand as a resilient supply-chain is crucial to secure sustained growth over the long-term. 'So when we are pumping in so much money in capex (Rs 7.5 lakh crore by the Centre and Rs 3 lakh crore by the states, which is the biggest demand push any government has given in a year,) there will be all-round demand generation in all key sectors of the economy be it cement, steel or other metals which will an impact on overall demand too,' he explained.
Moving on to exports, which are already a record high by crossing USD 336 billion by January, he said he is doing everything to ensure that we cross the USD 400 billion target set for the next fiscal by mid-way. Towards this the government is speeding up free trade talks with key nations such as Britain, Canada and Australia and also began with the GCC nations. 'On the FTA with the UK you will have positive surprises in a few days while with Australia it is being worked out on a priority basis. Recently the GCC grouping also expressed interest in inking a free trade agreement with us,' Goyal said.
'That we’ve been earning over USD30 billion in each of the ten months of the fiscal is a clear indication that our competitiveness has gone up,' he said, adding our services industry is also on course to net USD240 billion this fiscal.
Going forward our export story will be a race to the top—a race between the services and merchandise exports both have to race clock USD 1 trillion each over the next five-six years when the economy will be a USD 5 trillion giant. The minister also urged the industry, exporters in particular to be more demanding from the government in general and him specifically, so that he can make better bargains with other nations while engaging in trade negotiations.
financialexpress
Archive