A growth-oriented exercise, says CII Telangana

Hyderabad: The Telangana unit of the Confederation of Indian Industry (CII) on Wednesday termed the Union Budget for 2017-18 presented in Parliament by Finance Minister Arun Jaitley as growth-oriented and progressive.

It felt that it would give a fillip to rural economy, small and medium enterprises (SMEs), and skill development, besides offering a big boost to infrastructure sector.

“The Union Budget for 2017-18 is on expected lines and the CII welcomed it. The Budget primarily focused on skill development in rural areas as well education.

It will offer big boost to infrastructure development in the areas of railways, roads and airport infrastructure,” V Rajanna, vice-chairman, CII Telangana, and Regional Head, Tata Consultancy Services, told the media here.

Rajanna hailed the decision to reduce corporate tax from 30 per cent to 25 per cent on SMEs with a turnover of Rs 50 crore or lower.

Reacting to the Budget proposals, Vanitha Datla, vice-chairperson, Elico Ltd, said the Budget would spur economic growth in the country. “Fiscal deficit has come down. The Budget will push growth despite uncertainty prevailing all over the world.

There are several initiatives in the Budget for achieving gender parity and women empowerment,” she said.

V Anil Kumar, Chairman, WWF, observed that there were several positive developments for the growth of agriculture sector.

“Continuing from the initiatives in the last Budget, the government announced plans to double farmer’s income in five years. This is a good move,” he said.