Lucknow, Feb 28 (IANS) The Confederation of Indian Industry (CII) and industrialists of Uttar Pradesh Saturday complimented Finance Minister Arun Jaitley for presenting a "growth oriented, reformist and pragmatic budget".
The CII said by "focussing on manufacturing, ease of doing business, prohibiting black money and continuing with the ongoing reforms", the budget was set to create an "enabling environment".
CII Northern chairman Zubin Irani said the industry was happy to note that many of its recommendations as part of the Union Pre Budget Memorandum such as monetisation of gold, phased reduction in corporate tax, early rollout of GST, tweaking of real estate investment trusts and infrastructure investment trusts, increased emphasis on manufacturing by way rationalisation in custom and excise duties, focus on ease of doing business have been majorly accepted by the finance minister in this year's budget or at least he has given a roadmap on these.
Irani said the budget has been a comprehensive and pragmatic one as it lays out a vision for achieving higher and inclusive double digit growth rate.
Industrialists felt that focus on the manufacturing sector was of utmost importance for growth and to create job opportunities for millions and that the budget laid the roadmap ahead in this regard.
"India is presently ranked at 142nd position among 185 countries in 'ease of doing business' as per a World Bank report. Through the union budget 2015-16, the government has fortified its focus on ease of doing business to improve investors' confidence in the economy," said Somany Ceramics Ltd. CMD Shreekant Somany.
About the proposed GST rollout, UP State Council chairman and Jakson Engineers managing director Sameer Gupta said CII has been for long advocating for the early rollout of GST, and "we believe that the finance minister's commitment towards rollout out GST by April 1, 2016 is really commendable".
"CII believes that GST regime is expected to add about 1-1.5 percent in the country's GDP. As a movement towards GST, the education cess and secondary and higher education cess getting subsumed in central excise duty is a positive indication," he added.
"Understanding that a lot of Indian capital gets locked or remain idle because of investment in gold, the proposal of the finance minister to introduce a gold monetisation scheme will allow depositors of gold to earn interest in their metal account," Chopra Retec Rubber Products Pvt. Ltd managing director Kiran Chopra told IANS.
Want debate on political parties rights: Congress
Thiruvananthapuram, March 3 (IANS) V.M. Sudheeran, the head of the Congress' Kerala unit, on Tuesday called for a debate on the rights and responsibilities of political parties vis-a-vis the
Russia becomes India's largest oil supplier: Saudi Arabia and Iraq left behind, Pakistan is still seeking discount
In terms of supplying crude oil to India, Russia has left behind Iraq and Saudi Arabia. According to the report of Energy Cargo Tracker Vortex (ECCV), Russia supplied 9 lakh 35 thousand 556 barrels of
Now Priyanka Chopra will be seen with this Marvel superhero, this will be the role of the actress in Amazon's 'Ending Things'
Actress Priyanka Chopra, who has shown her acting skills from Bollywood to Hollywood, is in a discussion about her new film. She will once again be seen doing the action in a Hollywood film. Priyanka
Active cases decreased by 2709; Now 3.76 lakh patients are undergoing treatment, this is the lowest in 145 days
Corona cases declined in the country on Sunday. 33,212 new patients were found, 35,497 were cured and 421 died. In this way, the number of active cases, that is, the number of patients undergoing
PBKS vs LSG: Thanks to Stoinis-Meyers, Lucknow made the second highest score of IPL, defeated Punjab by 56 runs
In the 38th match of IPL 2023, Lucknow Super Giants defeated Punjab Kings by 56 runs. Batting first after losing the toss, Lucknow scored 257 runs losing five wickets in 20 overs. Marcus Stoinis
'Captaincy skills learned from MS Dhoni', King Kohli made a big disclosure, gave a surprising statement on responsibility
India's star batsman Virat Kohli has made a big disclosure about the captaincy of the team. Kohli said about learning from Dhoni that I have learned a lot from him. Kohli said that you cannot please
Indian stars made 4 big records: Surya left Rizwan behind, Rohit Sharma Sixer King; Virat is now ahead of Gayle
Team India's winning streak continues in the T20 World Cup. The Indian team, which won a thrilling four-wicket win over Pakistan in the first match, registered a blistering 56-run victory over the
UGC chairman's big announcement, now students will be able to get 2 full time degrees simultaneously
The University Grants Commission has announced its decision to allow students to pursue two full-time degree programs simultaneously in physical mode. UGC President Jagdish Kumar has said that
Amitabh Bachchan: Big B did this tweet regarding women's innerwear, and now users are furious at the megastar
Apart from films, Amitabh Bachchan, the megastar of the century, is also in the limelight for his personal life. Megastars stay connected with their fans through social media. Apart from this, the
Heavy rain alert in 5 states including MP: 11 people died due to lightning in Bihar, 7 died due to floods in Godavari river of Andhra Pradesh
It is raining in most of the states of the country. There is a flood-like situation in many places. According to the Meteorological Department, heavy rain may occur in some areas of Goa, Madhya
