India Inc seeks growth-oriented budget, higher health spend from FM

Says fiscal consolidation be pushed for later years or formulated from three-year perspective

Finance Minister Nirmala Sitharaman on Monday kick-started her pre-Budget consultations with industry leaders. They urged her to present a growth-oriented Budget for 2020-21, even if fiscal consolidation was pushed for later years. Industry representatives also called for enhancing spending on health care, given the Covid-19 pandemic.

“The Confederation of Indian Industry (CII) has suggested that the Budget proposals focus on growth and alongside look at fiscal management from a three-year perspective. Aggressive disinvestment and monetisation of assets can augment government revenues at a time when tax revenues have fallen sharply,” said chamber President Uday Kotak.

The Federation of Indian Chambers of Commerce