Atmanirbhar Bharat 3.0 will pave way to economic recovery, push job creation: ASSOCHAM

Industry body ASSOCHAM’s President Niranjan Hiranandani said on Thursday, November 12 that the government’s continuous support coupled with the new announcements under the Atmanirbhar Bharat Yojana 3.0 will make the road to economic recovery post-COVID-19 pandemic stronger.

Reacting to the 7th major stimulus package after the coronavirus pandemic by Finance Minister Nirmala Sitharaman, Hiranandani stated that it will further facilitate and incentivise job creation, and provide much relief and impetus to the housing and infrastructure sector. He added that the package is a “good Diwali gift from the government.”

FM Sitharaman, on Thursday, announced 12 measures to counter the effects of COVID-19 pandemic lockdown on the economy and people. “Strong growth and an increase in demand have propelled the economy on a rebound. The effects of previous announcements Aatmanirbhar Bharat Abhiyaan 1.0 and 2.0 are clearly evident by the RBI’s prediction of a strong likelihood of the economy returning to positive growth in Q3 rather than Q4 earlier by the quarter,” he said in the statement.

“The measures announced today are a kind of relief the infra and housing industries were looking forward to. It would certainly push sluggish demand in the housing sector and will also address the issue of unsold inventory in the sector. The announcement will also push the infrastructure sector out of the doldrums. The tax relief will take some pressure off the end-user and also the provider,” Hiranandani further added.

Source: Business Today


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