Finance Minister Arun Jaitley to meet India Inc ahead of Union Budget; manufacturing top on agenda

Jun 05 2014, 15:34 IST
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As a part of the pre-budget consultation exercise, the Finance Minister arun Jaitley has already met with agriculturists. As a part of the pre-budget consultation exercise, the Finance Minister arun Jaitley has already met with agriculturists.
SummaryCorporates want Narendra Modi government to take steps to boost manufacturing sector.

Finance Minister Arun Jaitley will meet captains of Indian industry to elicit their views on the Union Budget, which is likely to be presented in the first week of July.

As a part of the pre-Budget consultation exercise, the Finance Minister has already met with agriculturists and will meet representatives of social sector later today.

The industry wants the Narendra Modi-led government to take steps to boost the manufacturing sector, which has remained stagnant in the past two years.

It also wants clear and credible policies to attract investments, push mega projects and encourage growth.

It has already made a case for non-adversarial, conducive and fair tax regulatory environment.

The sub-five per cent GDP expansion poses a big challenge for the new government which needs to act fast to revive the economy.

The economy grew by 4.7 per cent in 2013-14 and 4.5 per cent in 2012-13 fiscal. The manufacturing sector contracted by 0.7 per cent in 2013-14. It grew by 1.1 per cent in the earlier fiscal.

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