CII has welcomed the Union Budget 2016

The Confederation of Indian Industry (CII) has welcomed the Union Budget saying it outlines a comprehensive vision for citizens with strong focus on growth, investment, agriculture, job creation and social security.

Mr Sanjay Kirloskar, Chairman, CII Western Region & Chairman & Managing Director, Kirloskar Brothers Ltd.

“With adequate focus on farming, social sector, infrastructure and fiscal prudence, the Union Budget 2016-17  is broad-based. The target to double farmer’s incomes by 2022 is ambitious and higher allocation for irrigation schemes and crop insurance will positively impact the sector going ahead. Increased thrust on government investments in infrastructure will aid economic growth now that private sector investments are subdued. Substantial enhancement in allocation to Gram Panchayats and municipalities will empower them and help accelerate development.”

Mr Pradeep Bhargava, Past Regional Chairman – Western Region and Director, Cummins India Ltd

“Extremely balanced budget which attempts to meet the rising needs of the rural / social sector as well as the aspirations of the commercial / industrial world. Commend the prudence of financial discipline (maintaining deficit to 3.5% in FY 16-17) and still enhancing plan expenditure. Sincere attempt to rationalize, simplify and usher in technology for better governance.

Mr Amitabha Mukhopadhyay, Convener, CII Pune Finance & Taxation Panel & Executive Vice President & CFO, Thermax Ltd

“The budget has addressed the key issues of infrastructure investment and rekindling the PPP engine. On past cases, the Government has put its best foot forward.”

Mr Parag Satpute, Managing Director, Sandvik Asia Pvt Ltd

“Having made a commendable start on the ease of doing business and the Make in India initiative, in this budget, the Government has prioritized expenditure on the rural, social and infrastructure sectors. We hope that these help in boosting the rural economy and demand creation in the rural sector. Outlays for the infrastructure sector, especially roads and railways is a welcome move. The target to bring Fiscal deficit at 3.5% of GDP is indicative of the government’s overall taxation, investment, consumption and subsidy policies.”

Mr Narasimha Rao, Managing Director, Burckhardt Compression (India) Pvt. Ltd. and Member, CII National Committee on Skills Development

“‘Growth Oriented’ – Good thrust on Agriculture, Rural, Social and Infrastructure sectors”

Mr Ashwini Malhotra, Past Chairman, CII Maharashtra State Council & Managing Director, Weikfield Foods Pvt. Ltd.

“With the massive allocation in the agricultural irrigation sector, it is very good news for the Food Processing & Food FMCG sector like ours. Organic farming has been given a good boost which is great news for our Organic Green teas. The 100% FDI in the marketing of food products manufactured in India will also encourage the MSME sector in our industry. All in all a good budget for our Food Processing sector.”