The industry wants the new govt to take steps to boost manufacturing sector, which has remained stagnant in the past two years. It also wants clear and credible policies to attract investments.
New Delhi : Finance Minister Arun Jaitley will on Friday hold pre-budget meetings with industry, trade bodies as well as trade unions, a government release said.
The pre-budget consultations started on Thursday with Jaitley meeting representatives from the agriculture sector.
With preparations for the Budget having already been started in the finance ministry, industry representatives are likely to present their demands and expectation to the finance minister.
The full Union Budget for 2014-15 (Apr-Mar) is likely to be presented in early July, according to a communique issued by the finance ministry.
The industry wants the new government to take steps to boost the manufacturing sector, which has remained stagnant in the past two years. It also wants clear and credible policies to attract investments, push mega projects and encourage growth.
It has already made a case for non-adversarial, conducive and fair tax regulatory environment.
The sub-five per cent GDP expansion poses a big challenge for the new government which needs to act fast to revive the economy.
The economy grew by 4.7 per cent in 2013-14 and 4.5 per cent in 2012-13 fiscal. The manufacturing sector contracted by 0.7 per cent in 2013-14. It grew by 1.1 per cent in the earlier fiscal.