CII welcomes inclusive growth oriented Budget 2011-12By ANI
Monday, February 28, 2011
NEW DELHI - The Confederation of Indian Industry (CII) on Monday welcomed the budget proposals for 2011-12 presented in Parliament by Union Finance Minister Pranab Mukherjee.
The CII said that it was focused on the investment environment, especially in agriculture and infrastructure.
“The Finance Minister, Mr. Pranab Mukherjee, has done a fine balancing act to sustain economic growth, curb inflation, promote inclusive growth and maintain fiscal consolidation,” observed Chandrajit Banerjee, Director General of the Confederation of Indian Industry (CII).
He added: “With the reduction in the fiscal deficit, the interest rate environment is also likely to remain conducive to growth.”
“The CII also welcomes the fact that the Finance Minister has refrained from any increase in the indirect tax rates and taken forward the move towards GST (General Sales Tax). The move towards direct transfer of subsidies for kerosene, fertilizer, and LPG for BPL families will remove the inefficiencies that plague our delivery of welfare measures to under-privileged sections,” said Banerjee. (ANI)