Recapitalisation of banks will ensure more credit, said Chadrajit Banerjee, DG, CII, on Wednesday. After the announcement of the Economic Survey 2016-17 on Tuesday, Banerjee emphasised on the importance of changing personal income tax slabs in the country, as this would help in increasing consumption and investment.
Banerjee added that Finance Minister Arun Jaitley must in his annual budget focus on more sectors like the textile industry, as they are essential for boosting demand and export sector.
"Sectors like the Apparel and Leather industry are not only employment generating, but are also crucial to the export sector. By providing adequate incentives, such sectors can definitely compete in the global market," Banerjee told ANI.
Speaking on the impact of demonetisation, Jagdish Khattar, Chairman and MD, Carnation Auto, stressed on employment generation for the informal sector.
"The service sector was worst hit by the not ban. It is essential for the Finance Minister to focus on creating more jobs in that sector," said Khattar.
Union Finance Minister Arun Jaitley is presently presenting the Union Budget 2017-18 in Parliament. This is for the first time that the Rail Budget is being presented along with the Union Budget.