Elaborating on the recommendations, CII Vice-President Hari Bhartia said the forthcoming budget should focus on an investment-led growth by introducing broad-based reforms in the banking, finance and retail sectors. The Union Budget is expected to be presented in July, 2009.
The CII on Monday recommended raising personal income tax exemption limit by Rs 50,000, removal of Fringe Benefit Tax and surcharge on corporate tax along with measures to promote investment in the full budget to be presented by the new government in July.
It called the draft text 'totally unacceptable, insensitive and unbelievable'.
Finance Minister Nirmala Sitharaman on Thursday said the budget to be presented on February 1, 2024 would not have any "spectacular announcement" as it would be a vote on account in run up to the general elections. "It is a matter of truth that February 1, 2024 budget that will be announced will just be a vote on account because we will be in an election mode. "So the budget that the government presents will just be to meet the expenditure of the government till a new government comes to play," she said.
Confederation of India Industry on Saturday welcomed the signing of Preferential Trade Agreement between India and Afghanistan and said this would facilitate easy flow of goods between the two countries.
"If the government is going to borrow from the market to fill the fiscal deficit, then they are going to suck up all the money available in the banks and we will be crowded out," the new CII president Venu Srinivasan told reporters in New Delhi. Pitching for monetisation of the budget deficit, he said, "It means printing notes. Which means you have the risk of increasing inflation but at the same time you will keep the economy afloat".
.jpg)
The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
The Confederation of Indian Industries, on Friday, was all praise for the Atal Bihari Vajpayee-led coalition governments in terms of being development-oriented and helpful to the industry.
Days before the national biofuel policy is taken up by the Union Cabinet, the Confederation of Indian Industries has demanded incorporation of enough "flexibility in the biofuel blending mandate" based on the availability of such fuels.
It plans to push the growth further to 8.5 - 9 per cent.
Industry body CII has asked the governments of Delhi and Rajasthan to reconsider their decisions to scrap the FDI policy for multi-brand retail as such investments would help create millions of jobs and benefit consumers.
The Confederation of Indian Industry has entered into an agreement with the Chinese city of Sheynag to promote long-term cooperation in the area of information technology.
The Confederation of Indian Industry has said a minimum of 7 per cent of GDP, which translates to about Rs 200,000 crore (Rs 2000 billion) a year of investment, has to go into gross capital formation in infrastructure for sustainable growth.
India's leading industry chambers, the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci), said the US government should remove export restrictions on dual-use technologies.
The Central Electricity Authority and industry body CII will present a white paper on power sector reforms to the government by the end of this month, a senior government official said.
Manufacturers said they expect the growth of manufacturing sector to be less than 7 per cent.
The department of science and technology, Confederation of Indian Industry and Intel on Wednesday signed a statement of intent with a view to promote culture of inventions and innovations among students and youth of the country.
In a bid to promote Indian film industry in the international arena, CII would launch a delegation of film directors, producers and financers of the industry to the American Film Market in California.
Signing a memorandum of understanding in this regard with Confederation of Indian Industry's deputy director general Indrani Kar, World Bank President Robert Zoellick said the India Wildlife Business Council would lead the efforts to save tiger from becoming extinct.
India and Russia need stronger trade and economic ties, CII President Hari S Bhartia has said.
Confederation of Indian Industry has asked Prime Minister Manmohan Singh to fast track economic reforms, which in turn would boost investments and accelerate growth, chamber's new president Adi Godrej said on Thursday.
Taking into account the buoyant performance of the Indian economy in the first half of the current financial year, the Confederation of Indian Industry (CII) has revised its GDP growth estimate for the year from around 8 per cent to 8.6 per cent.
More than lobbying for concessions, CII strove to be an instrument of change.
The large current account deficit and the growing vulnerability on the external front have largely contributed towards the secular decline and the current volatility of the rupee.
The current global financial crisis dominated the India Economic Summit's (IES) pre-event conference. The three-day event, being organised jointly by the World Economic Forum (WEF) and Confederation of Indian Industry (CII) from Saturday, would make its debut in this city after 26 years. The summit, an annual event, is usually held in New Delhi.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Actress Aishwarya Rai inaugurated the CII India Pavilion at the annual Cannes Film Festival, on Thursday evening.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances