Ranchi: Chandrajit Banerjee, Director General, CII, today said the Union Budget has some excellent measures to ease the lives of the common people with emphasis on the farm sector, education, healthcare and social protection. Small and medium enterprises received a boost through tax measures as well as access to credit. Industry appreciates government’s efforts to increase employment and encourage entrepreneurship through various measures.
In a difficult year, the FM has done well to contain the fiscal deficit at 3.5% of GDP, a deviation of 0.3% from the Budget estimate. The plan to move towards fiscal consolidation in the coming year would maintain macro stability and enhance investor confidence. Many of the measures in the Budget are in line with CII recommendations such as incentives for new jobs, extending fixed term employment, enhancing quality of education including teacher training and addressing healthcare access. Overall, this is a balanced and prudent Budget that sets the foundation for future growth in the economy.
Killol Kamani, Vice Chairman, CII Jharkhand State Council, said the Union Budget 2018 has been very positive and encouraging for Industry. The Corporate tax cut to 25% for companies with revenue up to Rs 250 cr, is a very positive step. The government has presented a balanced and populous budget with reforms and thrust on Education, Healthcare and Infrastructure, he said.