CII: Balancing act
The Confederation of Indian Industry (CII) has termed the Budget as a balanced one, which takes care of almost everything.
India is one of the few economies in the world that is growing. The Budget has a long-term aim of reviving the ailing economy.
The Budget has also stressed inclusive growth. That is important since in the light of the problems faced in the central and eastern parts of the country, the Budget has laid emphasis on these pressing problems by hiking resource allocation.
On the issue of taxation, the CII said that we got what we wanted. Whether it is scrapping of the FBT and giving a time-bound introduction of GST in April 2010.
The CII added that on investments in infrastructure, granting incentives to investments in cold storage for the farm structure, extending the R&D weighted deduction of 150 per cent primarily to all manufacturing sectors with a few exceptions, the FM has virtually granted all our requests.
