Dubai: Prominent businessman and Managing Director of Emke-Lulu Group and Director of Abu Dhabi Chamber Yusuffali MA yesterday welcomed the Indian budget as humane and said it will spur social development.
“The budget gives considerable stress on social development. The introduction of Nirbhaya fund exclusively for the safety and empowerment of women is unique and a very innovative step which will surely bring about major change in the Mindset of the society,” said Yusuffali in a statement. He said the plan to launch an exclusive bank for women is another landmark initiative which will bring tangible results in the advancement of women equality and opportunity.
Yusuffali added: On a more corporate level, the plan to infuse `140bn into the public sector bank will boost liquidity in the market and will act as a catalyst to the business environment at large. The introduction of Infrastructure bond is another good step, as this is one area which badly needs major improvement in India if we have to achieve better growth numbers. Of course the thrust in the agriculture, health and education sector sector is anticipated and is always welcome.
“As a retailer I am delighted by the announcement of the scheme to build international standard warehouse and cold stores which will further boost the trade and at the same time improve quality. Planned allocation of `100bn for the food security is very apt and will go a long way in controlling price and scarcity, Yusuffali said. The Peninsula
