Confederation of Indian Industry (CII) President Sanjiv Bajaj on Tuesday said the Economic Survey 2022-23 has showed that the government is on track to achieve the fiscal deficit target for the year despite fiscal pressures.
He also stated that this would help in maintaining credibility and macro-economic stability but would also create the space for increasing capex significantly, especially in the infrastructure sector, to drive the economic growth in the current year and beyond.
“CII has been advocating that spending priorities should not come in the way of achieving the fiscal deficit targets for the year and has called for a roadmap for gradually reducing the fiscal deficit to achieve the goalpost of 4.5 per cent by FY26,” Bajaj pointed out.
Today the biggest change is every Indian’s confidence is at its peak: President MurmuHer address to joint session of parliament ahead of last budget session before next year’s general polls had high dose of welfarism and vows government’s resolve to “remove every obstacle” faced by women
Bajaj hailed the Economic Survey for offering a detailed, far reaching, comprehensive and in-depth analysis of the Indian economy. He also observed that the facts and figures presented in the survey would provide a rich repository of information and insights on the economy which would hopefully provide some idea on what the budgetary numbers could look like, he stated.
According to the CII chief, the survey has rightly pointed out the contributions of proactive government policies in driving up the performance of the financial sector. According to the survey, India is poised to emerge as one of the fastest-growing insurance markets in the coming decade, which is a significant achievement.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.