Panaji, Feb 1 (PTI) Goa's industry has hailed the Union Budget for 2023-24 as development-oriented and growth-driven.

Goa State Industries Association President Damodar Kochkar, in a statement issued here on Wednesday, said Finance Minister Nirmala Sitharaman has presented a development-oriented and growth-driven Budget for 2023-24.

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The Budget 2023-24 has been focussed on seven priorities, including inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and the financial sector, he added.

In a big relief to COVID-hit MSMEs, Kochkar said, the finance minister has announced an infusion of 9,000 crore in the Credit Guarantee Scheme.

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"This will enable collateral security for Rs 2 lakh crore loans to MSME and increase fund flow to distressed and fund-starved MSME sector," he added.

Travel and Tourism Association of Goa President Nilesh Shah said that it is a very positive budget.

"It will help the overall growth of the country. The interest-free loan for 50 years will help the government to complete tourism-related projects, which were lagging behind due to financial constraints," Shah said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)