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Arun Jaitley to meet industry leaders for budget views on Friday

LiveMint logoLiveMint 05-06-2014 PTI

New Delhi: Finance minister Arun Jaitley will meet industry leaders to elicit their views on the budget, which is likely to be presented in the first week of July. As a part of the pre-budget consultation exercise, the finance minister has already met with agriculturists and representatives of the social sector early on Thursday.

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 a non-adversarial, conducive and fair tax regulatory environment.

The sub-5% 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% in 2013-14 and 4.5% in 2012-13 fiscal. The manufacturing sector contracted by 0.7% in 2013-14. It grew by 1.1% in the earlier fiscal.

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