CII hails Budget as growth and investment oriented

Industry body lauds Budget for addressing fiscal consolidation, and simultaneously focusing on inclusive and sustained human development

The Confederation of Indian Industry (CII) hailed Union Budget 2013 for being growth- and investment-oriented.

A statement attributed to CII Director General Chandrajit Banerjee said that while addressing fiscal consolidation, the Budget also focused on inclusive and sustained human development.

The statement further said that commendable initiatives had been taken in critical sectors such as agriculture, investment in manufacturing and infrastructure, MSME growth and capital market development among others.

CII lauded the announcement of 15% investment allowance to kickstart capital formation, and welcomed the enhanced outlay on education, healthcare and skill development with a view to increasing opportunities for the youth.