Mumbai, Feb. 1 -- Tata Sons Chairman N Chandrasekaran has praised the Union Budget for prioritizing growth "given the challenging macro backdrop of slowing global growth and tightened financial conditions."

Chandrasekar said the revision of income tax slabs under the new tax regime should increase purchasing power for many.

The budget also remains committed to shared prosperity by extending the free food scheme for one more year.

"We are witnessing three major transformations globally: rapid digital adoption, the rebalancing of supply chains, and environmental sustainability," he emphasized.

This Budget helps position India to play a leading role in all three transformations, Chandrasekhar added.

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