Industry bodies today welcomed Union Budget for 2016-17 saying it is growth oriented. President of ASSOCHAM Sunil Kanoria said the government has rightly realized that a sustainable and equitable growth model cannot be built as long as the rural economy is in distress. He said with successive monsoon failure, the farm sector was in distress and the Finance Minister with a clear vision of the Prime Minister Narendra Modi has tilted the balance in favour of the agriculture sector. FICCI President Harshavardhan Neotia said overall the budget proposals are in line with the development priorities of the nation. Mr Neotia said the Finance Minister has made a strong attempt to boost the rural economy and the infrastructure sector.