Union Budget favourable to middle class, and SMSMEs

Ongole: The Union Budget 2023-24 is in favour of the middle class, and small and middle scale enterprises in the country, observed the vice president of Coromandel International Limited, GV Subbareddy.

Speaking on the budget introduced by Finance minister Nirmala Sitharaman in the parliament, Subbareddy said that the government decided to offer more services through the Primary Agriculture Credit Societies, which are limited to disbursing loans, by digitalizing them and also by changing the by-laws. He said that with the Agriculture Accelerator Fund, the rural talents will get to establish start-ups to provide farm solutions at affordable rates. He observed that with the government's focus on production, training and branding for millets, sales and consumption is expected to increase.

He said that the government may reduce the subsidy on fertilizers without imposing any extra burden on the farmers, as international prices are reducing.