Calling the Situation Grim, the Supreme Court Takes Suo Motu Cognizance of Delays in NCLT Approvals  ||  Supreme Court: Admission of a Claim by a Resolution Professional is Not Debt Acknowledgment  ||  Supreme Court: Public Figures Must Exercise Caution as Their Words Have Consequences in Society  ||  SC: State Must Act as a Model Employer, Criticising the Union For Not Regularising ISRO Workers  ||  J&K&L High Court: Minor Minerals Have Major Environmental Impacts and Must be Regulated  ||  Del HC: Unexplained Money Received by Public Servant is Not Bribery Without Proof of Official Favour  ||  Del HC: There is No Absolute Bar on Granting Co-Convicts Parole/Furlough Together in Suitable Cases  ||  Bom HC: LARR Authority Can Examine Limitation Issues in Land Acquisition References under 2013 Act  ||  MP HC: Long-Serving Employees Cannot Be Denied Regularisation by Retrospective Statutory Amendments  ||  J&K&L HC: Routine Challenges to Lok Adalat Awards Defeat Their Purpose of Quick Dispute Resolution    

Finance Minister holds Second Pre-Budget Consultation with the Representatives of Industry, Services and Trade Groups- (Press Information Bureau) (11 Jun 2019)

MANU/PIBU/0591/2019

Commercial

The Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, started her Pre-Budget Consultations with different stakeholder Groups in connection with the forthcoming General Budget 2019-20 here today. Her second Meeting was with the stakeholder Groups from Industry, Trade and Services Sectors.

In her Opening Remarks, the Finance Minister, Smt. Nirmala Sitharaman said that the Central Government has taken several industry specific initiatives since 2014 that had significantly improved the overall business environment. She said that the emphasis was given to simplification and rationalization of the existing rules and introduction of Information Technology to make governance more efficient and effective. As a result, the Finance Minister said that India has considerably improved its ranking to 77th position among the 190 countries and has kept 23 ranks over its rank of 100 in the Doing Business Report 2018 as per the World Bank Doing Business (DB) Report, 2019. The Finance Minister, Smt. Sitharaman also mentioned that since 24 % of the total work force in India is in industrial sector, therefore, in order to reap the benefits of demographic dividend, industry should be able to accommodate more work force, the Minister concluded.

Along with the Finance Minister, the meeting was attended by Shri Anurag Thakur, Minister of State for Finance and Corporate Affairs, Shri Subhash C. Garg, Finance Secretary, Shri Girish Chandra Murmu, Expenditure Secretary, Shri Ajay Narayan Pandey, Revenue Secretary, Shri Rajeev Kumar, Secretary, DFS, Shri Atanu Chakraborty, Secretary, DIPAM, Shri Yogendra Tripathi, Secretary, Ministry of Tourism, Shri Amit Khare, Secretary, Ministry of Information and Broadcasting, Shri Ramesh Abhishek, Secretary, Department for Promotion of Industry and Internal Trade, Shri Anup Wadhawan, Secretary, Department of Commerce, Ministry of Commerce and Industry, Shri Pramod Chandra Mody, Chairman, CBDT, Shri P.K Das, Chairman, CBIC, Dr K.V. Subramanian, CEA and other senior officials of the Ministry of Finance.

With a view to give boost to Indian economy, the representatives of Industry, Services and Trade Sectors submitted several suggestions concerning Industrial sector, land reforms, special economic zones, industrial policy, investment in research and development, simplification of tax regimes, tapping potential in tourism sector, Foreign Direct Investment (FDI), Good & Services Tax (GST), Capital Gains Tax, Corporate Tax, MSME Sector, e-commerce, skill development, education and healthcare sectors, start-ups, media and entertainment sector and food manufacturing industry.

Representatives of Industry, Services and trade Sectors included Shri Vikram S. Kirloskar, President, Confederation of Indian Industry (CII), Shri Balkrishan Goenka, President, ASSOCHAM, Shri Sandip Somany, President, FICCI, Shri Pramod Agrawal, chairman, Gem & Jewellery Export Promotion Council, Shri Animesh Saxena, president, Federation of Indian Micro and Small & Medium Enterprises (FISME), Shri Ajit Kumar, Director, Hinduja Group, Smt. Rajni Aggarwal, President, Federation of Indian Women Entrepreneurs (FIWE), Shri Panaruna Aqeel Ahmed, Chairman, Council for Leather Exports, M/s Florence Shoe Co. Pvt. Ltd., Shri Rahul Bothra, CFO, Swiggy, Bundl Technologies Pvt. Ltd., Shri Ajay Sahai, Director General & CEO, Federation of Indian Export Organisations, Shri Raj Nair, President, IMC Chamber of Commerce and Industry, Shri Gopal Srinivasan, Chairman, TVS Capital Fund Pvt. Ltd., Shri P.R. Venketrama Raja, Vice Chairman, MD & CEO, Ramco Systems, Shri Sachin Taparia, Chairman & CEO, local Circles India Pvt. Ltd.

Tags : PRE-BUDGET   CONSULTATION   REPRESENTATIVES   INDUSTRY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved