Jaitley meets business chambers and industrialists for pre-budget consultations | business-news | Hindustan Times
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Jaitley meets business chambers and industrialists for pre-budget consultations

In the fourth round of his pre-budget consultation meetings, finance minister Arun Jaitley on Saturday met business chambers and industry leaders.

business Updated: Nov 27, 2016 01:26 IST
HT Correspondent
Arun Jaitley
Finance minister Arun Jaitley during winter session at Parliament in New Delhi.(Vipin Kumar/HT Photo)

In the fourth round of his pre-budget consultation meetings, finance minister Arun Jaitley on Saturday met business chambers and industry leaders.

While the finance minister spoke about the resilience of the Indian economy amid uncertain global conditions, the industry bodies put forth their wish list from budget 2017.

Topping the wish list was reduction of corporate tax but in return of the industry giving up tax incentives and concessions.

The finance minister and the representatives of Indian trade and industry also spoke about the government’s efforts at increasing public spending and attracting private investment, especially in infrastructure.

While discussing the government’s recent demonetisation drill, the industry suggested that interest rates should be reduced with a surge in bank deposits.

The budget exercise has begun in November this year given the early budget in February 2017.

The visitors’ party to the finance ministry included representatives from business and trade chambers such as FICCI, CII and FIEO. Industrialists including Shashi Ruia of Essar Group, GM Rao of GMR, BN Kalyani of Bharat Forge, were also part of the delegation.