Industry & Economy
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Budget
India Inc sees reform-oriented Budget
Our Bureau
New Delhi
,
June 21
THERE may be a change of Government and the country might have a new Finance Minister, but India Inc still feels that the forthcoming Union Budget will be in line with other Budgets presented earlier.
"The forthcoming Union Budget will be a growth and reform-oriented Budget. I do not think there will be any change. The Government will focus on the rural economy, connectivity, and infrastructure, particularly water, and try and find ways to widen the tax net.
"It will also add thrust on manufacturing. By and large, the forthcoming Budget will be pretty much on line with previous Budgets," the newly appointed President of the Confederation of Indian Industry, Mr Sunil Kant Munjal, said.
When questioned on the Government's proposal of having reservation in jobs, the CII President said that the industry body feels that "at no cost can competitiveness" be compromised and added that the CII had already met the Chief Minister and Industry Minister of Maharashtra on the issue.
"The issue is how to bring about overall employment growth through better training. Merit cannot be compromised," Mr Munjal said, and added that the CII had started a dialogue with the Central and State Governments on the issue.
"We are making a comprehensive note which will be ready in the next eight to 10 days," the CII President said.
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