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Jaitley holds pre-Budget talk with India Inc, trade groups

During the meeting, heads of industry bodies like CII, Ficci and Assocham urged the FM to do away with the minimum alternate tax for manufacturing sector, to boost India’s manufacturing activity.

After the Bell

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As the Narendra Modi government gears up for its second Union Budget, finance minister Arun Jaitley on Tuesday held pre-Budget consultation with industry and trade groups.

During the meeting, heads of industry bodies like CII, Ficci and Assocham urged the FM to do away with the minimum alternate tax for manufacturing sector, to boost India’s manufacturing activity. Industry chambers also pressed for a stable tax policy and quick roll out of the goods and services tax and they also sought clarity in the government’s FDI policy across sectors.

Jaitley on his part told the heads of industry bodies that the government believes Budget is not needed to announce policy decisions as key decisions are being taken by the government round the year.

Agreeing with the finance minister, CII’s Ajay Shriram says this government has made many changes to push economic growth, while adding that Mr Jaitley has said that there is a need for a pro-business, pro-poor Budget.

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