CHENNAI: All India Anna Dravida Munnetra Kazhagam (AIADMK) general secretary Edappadi K Palaniswami on Sunday (February 1) welcomed the Union Budget, saying it reflected India’s economic strength and offered a clear roadmap for growth.
In a statement, he said that despite prevailing global uncertainties, the Indian economy continued to demonstrate resilience, with growth projected at 6.8% to 7.2%. He said the Budget had been framed with a clear focus on strengthening fiscal management, reducing the fiscal deficit, and ensuring sustained economic growth, thereby reinforcing the country’s long-term economic stability.
Palaniswami said the emphasis on reducing imports, enhancing domestic production, promoting research and manufacturing, and encouraging high-technology sectors such as artificial intelligence, digital manufacturing and industrial corridors was a positive step.
He said allocating funds to develop the textile sector, particularly in Tirupur and Karur, would provide a significant boost to employment generation and export growth. The thrust on highways, high-speed rail corridors and inland waterways was expected to bring about a major transformation in the transportation sector, he added.
Highlighting the measures announced for micro, small and medium enterprises, he said the allocation of Rs 10,000 crore for MSME growth financing would greatly benefit entrepreneurs and small industries in states such as Tamil Nadu.
“The Union Budget provides a strong roadmap for India’s economic progress and will further elevate the country’s position as a resilient and powerful economy on the global stage,” he said.