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The interim budget’s emphasis on innovation and growth is promising: Geetanjali Vikram Kirloskar

Bengaluru, India: Finance Minister Nirmala Sitharaman presented the Interim Budget 2024-25 at the Parliament today, a day after the commencement of the Budget Session. The interim budget provided estimates of the government’s expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months.

Sharing her views on the focus laid on innovation and R&D, Geetanjali Vikram Kirloskar, Chairman and Managing Director, Kirloskar Systems Limited said, “The announcement of a corpus of Rs 1 lakh crore for long-term, interest-free loans is aimed at boosting innovation. This move is expected to encourage industries to have a more focused approach towards research and innovation, particularly in emerging areas such as renewable energy and battery storage.”

The finance minister concluded her budget presentation with a positive outlook, signalling the government’s determination to continue fostering inclusive growth and development. Reiterating this, Mrs Kirloskar added, “A continued focus on prioritizing the needs of the poor, women, youth, and farmers will have a welcome impact on inclusive development and growth agenda of the country, both socially and geographically.”

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