Encouraging and growth oriented, says Yusuffali

Manama : Keeping in mind the fact that, currently India is the 7th largest economy and looking to reach 5th position, this is a very encouraging & growth-oriented budget with more emphasis given on rural & infrastructure development, said Yusuffali MA, Chairman – Lulu Group. 

The budget, Yusuffali said, will enable India to get a competitive edge in the global economy and bring about real changes. 

“It also pays special attention to farmers with the announcement of raising minimum price for crops & investing heavily in the agriculture sector,” he said adding that the increase in allocation in food processing will surely benefit farmers and create more jobs in this sector. 

The LuLu Group Chairman pointed out that the decision to implement world’s biggest national health protection scheme is a huge initiative which will benefit all sections of the society. “The budget also pays special attention to poor, women and senior citizens by announcing various path breaking steps for their welfare.

On Non-Residential Indians, Yusuffali said that the recent decision by the Modi government to treat all NRI investments as a domestic investment will act as a game changer. 

“This has thrown open many new investment opportunities for NRIs, especially from the Gulf region, who have always wanted to invest back in India and be an active partner in country’s growth,” he stressed. 

Though there is no mention about NRIs in this budget, Yusuffali expressed his hope that the “govt. will come up with proposals or initiatives to leverage the potential of NRIs to invest more in India by way of introducing transparent plans and hassle free procedures.”