In the pre-budget meeting, the industry told the government – ​​need to focus on increasing employment in the budget

Budget 2023-24: Business Chambers participated in the pre-budget meeting with Union Finance Minister Nirmala Sitharaman on Monday. The industry has asked the government to emphasize on measures to increase employment in the budget. Along with this, to bring more and more people into the tax net and to increase consumption, it has been suggested to rationalize GST and Personal Income Tax Slab. In the meeting with Finance Minister Sitharaman on suggestions regarding the budget, the industry has given many more suggestions.

What did the CII President say
Sanjeev Bajaj, President of CII (Confederation of Indian Industry-CII), says, “The global scenario is expected to remain unfavorable for some time. That’s why we should broaden our domestic economy by creating new areas of growth and speed up job creation to boost domestic demand. In the ‘online’ meeting, the industry has suggested to emphasize capital expenditure along with investment-based growth strategy to give impetus to the country’s economy amid global uncertainty.

Thoughts on Employment Guarantee Scheme
CII President Sanjeev Bajaj has suggested to bring employment based incentive scheme to create new job opportunities in the country. The government may consider bringing the Urban Employment Guarantee Scheme. In this budget, it can be started from metros on a pilot basis. Along with this, the corporate tax rate should remain at the current level to provide tax certainty to the companies. He said that priority should be given to rationalize tax rates, ease tax payment system and reduce tax disputes.

PHDCCI participated in the meeting
Udyog Mandal PHD Chamber of Commerce and Industries (PHDCCI) has presented its suggestions regarding the budget in this online meeting. PHDCCI suggests 5-point strategy to accelerate private investment through measures to increase consumption, increase capacity utilization in factories, boost job creation, improve quality of social infrastructure and accelerate India’s economic growth Is.

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What did Saket Dalmiya say
On the other hand, Saket Dalmiya, President of the Board of Industries, says, “The Union Budget for the financial year 2023-24 is being presented at a time when there is uncertainty at the global level and the growth rate of the world is slowing down with high inflation rate.” Has been At this time, to keep the country on the path of sustainable growth, there is a need to take thoughtful steps to increase the domestic sources of growth.

Read also:

Budget 2023-24: Finance Minister Nirmala Sitharaman pre-budget meeting, discussion with experts on infra and climate change


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