FICCI pre-budget survey: 67% of CEOs say budget should focus on MSMEs
The Federation of Indian Chambers of Commerce & Industry (FICCI) conducted a survey of more than 200 CEOs in the country to gauge their budget expectations. 67 percent of CEOs want the budget to focus on the MSME sector. 55 percent want to see more on infrastructure spending. On direct taxes, 45 percent of the CEOs want to see a reduction in personal tax for the middle class while 22 percent want to see the tax slabs widen.
The budget session of parliament has begun and expectations are running high, the stock markets staged a big rebound rally on the eve of the budget.
The Economic Survey was tabled in parliament and the 440-page document is guarded on GDP, projecting a growth rate of 8 to 8.5 percent for the upcoming financial year. It also said that the government has the fiscal headroom for additional spending.
Amid this backdrop, the Federation of Indian Chambers of Commerce & Industry (FICCI) conducted a survey of more than 200 CEOs in the country to gauge their budget expectations.
67 percent of CEOs want the budget to focus on the MSME sector. 55 percent want to see more on infrastructure spending.
When asked what they think should be the key policy thrust areas, 65 percent of CEOs said they want to see more done for the manufacturing sector while 54 percent want to see a thrust on green technology.
On direct taxes, 45 percent of the CEOs want to see a reduction in personal tax for the middle class while 22 percent want to see the tax slabs widen.
Finally, on whether COVID relief measures should be re-introduced or extended, 54 percent want ECLGS scheme for MSMEs and 52 percent want an employment scheme for the urban poor.
To discuss this CNBC-TV18 spoke to Sanjiv Mehta, President of FICCI and CMD of Hindustan Unilever, Sangita Reddy, Fmr President of FICCI and Joint MD of Apollo Hospitals Grp, Subhrakant Panda, Sr. Vice President of FICCI and MD of Indian Metals & Ferro Alloys and Uday Shankar, Former President of FICCI.
For full interview, watch accompanying video...
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First Published: Jan 31, 2022 7:56 PM IST
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