PANAJI: Confederation of Indian Industries (CII) looks at the budget to revive investment and script a turnaround in growth by the government adopting a three pronged approach of creating a framework for sustained low and stable inflation, setting public finances on a sustainable path by tax and administrative reforms and creating a legal framework for a well-functioning market economy, informs a press release issued here.
CII wholeheartedly supports the need for a fiscal consolidation roadmap ensuring greater transparency and improved budget management to step up the quality of fiscal deficit by boosting capital expenditure to re-energise investments and contain inflation.
In view of a stable and predictable tax regime, CII advocates the need for rationalising non-productive input subsidies and a transformation of tax administration for improving the investment climate and moving towards the next level of growth.
CII strongly hopes that there will be an early implementation of GST which would increase growth of GDP by about 1.5 per cent.
The Budget, the CII hopes, would come out with innovative measures to revive the economy and provide an impetus to investment and growth which would create job opportunities for the large number of unemployed youth entering the job market.