CII Seeks Early Passage of GST, Other Reforms Bills

Forbes also sought activation of the National Investment and Infrastructure Fund and augment capital expenditure on key projects.

Published: 07th April 2016 04:50 AM  |   Last Updated: 07th April 2016 04:50 AM   |  A+A-

CII Seeks

NEW DELHI:  “I will commit suicide,”—a smiling Dr Naushad Forbes, the new President of Confederation of Indian Industry, recalled, the words of industrialist J.RD Tata, when he was quizzed, what he would do, if he woke up one day to find that he was the Prime Minister of India.

Responding to a similar question he said, “on serious note, it is a difficult job.” But highlighted that India’s GDP growth rate for 2016-17can be achieved  at 7.75 – 8.25 per centm,” said Forbes.

“Strong macroeconomic fundamentals, favourable business sentiments, and downward trend in interest rates are significant positives for the economy,” he said.

Announcing the theme for 2016-17 — Building National Competitiveness — Forbes delineated six key enablers for building national competitiveness and announced new CII action initiatives for the year for each: Human Development, Ease of doing business, Corporate integrity and good citizenship, Innovation and technical capability, Sustainability, Integrating with the world.

He urged for the quick passage of the Constitutional Amendment to introduce the Goods and Services Tax, adding that this would make India a single market and reduce transaction costs.

Seeking Centre’s support in passage of the Bankruptcy Bill and a uniform public procurement policy, Forbes said States should consider amending their labour regulations and land acquisition processes to create a better investment climate.

Forbes also sought activation of the National Investment and Infrastructure Fund and augment capital expenditure on key projects like roads, railways, irrigation and power to provide fillip to the domestic demand.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp