NEW DELHI: While sharing recommendations during the pre-Budget consultation meet with senior officials of the Ministry of Finance including revenue secretary Sanjay Malhotra, the Confederation of Indian Industries (CII) delegation called for sustaining the cycle of capital investment in areas such as infrastructure to provide a further fillip to growth through a boost to employment and consumption.
Additionally, CII made a pitch for further reforms in tax system including through simplification of taxes, increasing India’s tax competitiveness, broadening of tax base and reducing tax litigation in order to build a globally competitive Indian economy.
XSanjiv Puri, President, CII and Chairman, during the presentation said, “India has emerged as the beacon of stability and growth in a fraught world. We are looking at the Union Budget to further consolidate its position and create a competitive India that is prosperous, inclusive, equitable, environment friendly and technologically advanced.”
Chandrajit Banerjee, Director General, CII, stated, “This Budget comes at a time when the world is going through some period of geopolitical and economic uncertainty. India is uniquely positioned to send a clear message to the global economic community that India is an island of growth in this milieu.”