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.
Islamic extremism a big threat in Britain: PAK is provoking UK Muslims on Kashmir; Khalistani supporters speaking against India
Islamic extremism in Britain is becoming a major threat to the country. Along with this, the radical thinking of British Muslims and Khalistani supporters on the issue of Kashmir is also becoming a
Found convincing evidence, that corona is spreading through the air; Expert told how to safe
There has been strong evidence that the virus responsible for corona infection, SARS-COV-2, is spreading through the air. This has been claimed in research published in the medical journal Lancet.
List of undergraduate programs of Delhi University, admission will be given based on CUET UG, the result is expected at any moment
CUET UG Result 2025 can be declared anytime by the National Examination Agency (NTA). Through the CUET UG exam, students will be able to take admission in the University and its affiliated colleges.
Adipurush Box Office Collections Day 2: Prabhas' film beats 'Pathan' on Day 2, earns ₹240 crore
Adipurush Box Office Collections Day 2: Prabhas' film Adipurush continues to rock the box office. The film has earned Rs 240 crores worldwide in 2 days. This film has left Pathan behind in terms of
One stop call centre for farmers coming up in Kerala
Thiruvananthapuram, March 21 (IANS) To provide professional inputs to farmers, the Kerala agriculture department is setting up a state-of-the-art call centre where all the queries of farmers would
Diwali Bonus: Government's gift to central employees, Finance Ministry announces to give Adhoc bonus on Diwali
The Finance Ministry has announced Non-Productivity Linked Bonus (Adhoc Bonus) to Central Government employees on the occasion of Diwali. Under this, all eligible employees will get 30 days salary.
Unlock 5.0 set to open Cinemahall from next month; Know how the experience of watching a film is going to change
Movie theaters across the country have been closed since 23 March. Unlock 4.0 guidelines expire on September 30. It is expected that the cinema hall will be allowed to open under the new guidelines
Maamannan: Madras High Court gives relief to the makers of 'Maamannan', refuses to stay the film
There is good news for the makers of the Tamil film 'Mamanan'. The Madras High Court has refused to stay the film. After which now Udhayanidhi Stalin and Vadivelu will release on the same day as
Lock Up teaser: There will be a ruckus on Kangana Ranaut's show, 'Bhai' and 'Papa' will all be targeted
Kangana Ranaut is coming as the host of Ekta Kapoor's show 'Lockup'. He has released the teaser of this reality show. He has shared a 59-second clip and discussions have started about it. Kangana's
Atal Bihari Vajpayee: Fourth death anniversary of former PM Atal Bihari Vajpayee, President Draupadi Murmu, PM Modi, and Vice President Dhankhar paid tribute
Bharat Ratna is the fourth death anniversary of former Prime Minister Atal Bihari Vajpayee. Prime Minister Narendra Modi, President Draupadi Murmu, and Vice President Jagdeep Dhankhar paid tributes to
