Growth-oriented budget: Mazumdar

Press Trust of India

Bengaluru: Biotechnology industry veteran Kiran Mazumdar- Shaw on Wednesday called the budget presented by Union Finance Minister Nirmala Sitharaman "inclusive and growth-oriented".

She said the budget, focused on seven priorities, lays the groundwork for inclusive economic growth to enable all citizens to have access to healthcare, education, a cleaner environment and sustainable livelihoods by the 100th year of the country's Independence.

"The capex outlay of Rs 10 trillion will help spur higher growth in the backdrop of a weak global economy, while the additional money in the hands of the people due to direct tax revisions will boost consumption. The increase in allocation of funds for pharma and healthcare this year is a step in the right direction," the executive chairperson of Biocon Limited said in a statement.

Welcoming the introduction of a new programme for research and innovation in pharma through centres of excellence, she said it would enable the industry invest more in R&D.

"With an eye on positioning India for global leadership, the FM has announced key measures for spurring digital transformation, economically empowering women, committing to climate action through a thrust on green economy and energy transition.