Budget 2025 Latest: FICCI President calls for capex hike, tax reforms and inflation control

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FICCI President ahead of the Union Financial Budget asserted that the expectations is to increase the Capital Expenditure by 15 percent. While speaking to ANI, he highlighted several sectors that should be included in the Union Financial Budget. “Few of the interesting things that have been communicated in the economic survey, like deregulation and ease of doing business which is very important from the industries perspective as FICCI we have been always communicating from the government on… the cost of doing business in the country be reduced…From the perspective of the Union budget there are two-three critical areas where you would like the government to focus…We have recommended to increase the CapEX by 15 percent…”: said FICCI President Harsha Vardhan Agarwal

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Transcript

00:00So, you know a few of the interesting things which have been communicated in the economic survey like, you know

00:06Deregulation and ease of doing business, you know, which is very important from the industry's perspective

00:12And FICCI as FICCI, we have always been

00:17Communicating with the government on you know, how do we simplify regulations doing away with the old regulations?

00:23So that the cost of doing business in the country can be reduced apart from that, you know, the GDP growth rate

00:29Projections is slightly lower than what FICCI had

00:33Projected or what were our expectations?

00:35But tomorrow, you know the we believe, you know, the budget will provide impetus for both the consumption and the investment demand

00:44Apart from that, you know one of the surveys analysis and recommendation

00:48to deduce import dependence on critical items

00:51is also to deduce on the sole supplier and

00:55Build domestic ecosystem around the wind solar EVs, you know for achieving our

01:04Long-term growth objectives. So yes, you know, in fact that has been also one of the FICCI's recommendation

01:09and

01:10overall, you know from the perspective of

01:13How do we improve the competitiveness of our manufacturing sector and there, you know

01:18for that what FICCI has recommended to the government is

01:21how do we

01:22Suggest the scaling up of the R&D and the innovation for the manufacturing sector. So from the expectations of union budget, I think

01:30There are two three very critical areas, you know, where you would like the government to focus

01:35as what they have been doing in the past

01:38is the focus on the

01:40CAPEX. So our recommendation is to continue with that and we have recommended to increase the CAPEX by

01:4715 percent. So that's there because it has a multiplier effect on the economy apart from that

01:52how do we increase the consumption because we are seeing some kind of a slowdown there and some boost from the government will

02:01Help in you know, giving more money in the hand of the consumers

02:05The people which will certainly help

02:08in overall boosting the consumption and overall

02:11Improving the demand scenario and maybe even help in the private investment as well

02:17Apart from that, you know, what are the steps that the government can take in the area of ease of doing business, you know some rationalization

02:25In TDS is what we have recommended and also in sustainability whether they can enhance the spend

02:32In the area of green energy. Don't miss out log on to oneindia.com for more updates

Budget 2025 Latest: FICCI President calls for capex hike, tax reforms and inflation control

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