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CII suggestion to Revenue Secy: Focus on consumption, investment

CII recommended adoption of an expansionary fiscal policy to allow fiscal deficit to increase by around 0.5 per cent to 0.75 per cent of GDP, which will give government additional fiscal space of Rs 1.1 lakh crore to Rs 1.6 lakh crore. 

By: ENS Economic Bureau | New Delhi | Published: December 7, 2019 5:00:58 am
Revenue Secretary Ajay Bhushan Pandey, Revenue Secretary, cii, Confederation of Indian Industry, pre-Budget Memorandum recommendations, business news, indian express Revenue Secretary Ajay Bhushan Pandey

In a pre-Budget consultation meeting with Revenue Secretary Ajay Bhushan Pandey, the Confederation of Indian Industry (CII) shared its pre-Budget Memorandum recommendations, focusing on providing impetus to consumption and investment.

CII pre-Budget Memorandum recommendations are mainly along the pillars of creating fiscal space for investment in infrastructure, enhancing rural demand, boosting private investment, augmenting government revenue and improving business sentiment, the industry group said in a statement.

CII recommended adoption of an expansionary fiscal policy to allow fiscal deficit to increase by around 0.5 per cent to 0.75 per cent of GDP, which will give government additional fiscal space of Rs 1.1 lakh crore to Rs 1.6 lakh crore.

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