Budget Addresses Key Drivers of the Economy
Rural, MSME and Employment Focus Strengthen Growth Forces
CII Welcomes Reduction of Corporate Income Tax for Most Firms
The Voice of Chandigarh News | Photos By T S Bedi
Union Budget 2018-19 addresses the major pain points of the economy at the current juncture and would go a long way towards facilitating the path of 8+ percent GDP growth rate, stated the Confederation of Indian Industry (CII) in a press release issued today. It takes forward the landmark reform measures of GST, Insolvency and Bankruptcy Code, bank recapitalization and so on taken by the Government through the last three years.
“The Budget provides impetus to the sectors of agriculture and rural economy with many significant measures which will add to overall consumption and demand and boost growth. The support to MSME sector through lowering of corporate tax rate to 25%, increase in access to finance, and addressing non-performing assets would help alleviate the stress in the sector,” stated Ms Shobana Kamineni, President, CII.