CII Calls for Fiscal Reforms to Sustain India's Economic Growth

The Confederation of Indian Industry (CII) urges the Indian government to enhance fiscal management and implement institutional reforms to sustain economic growth. Key recommendations include improving tax-GDP ratios, ensuring debt sustainability, and planning a privatisation agenda. The CII emphasizes leveraging technology for better fiscal outcomes.

The Confederation of Indian Industry (CII) has called upon the government to implement robust institutional reforms and pursue fiscal consolidation in the upcoming budget, aiming to sustain India's economic growth trajectory.

Chandrajit Banerjee, CII's Director General, highlighted the importance of maintaining India's unique blend of high economic growth and low inflation, achieved alongside positive fiscal indicators. Banerjee stressed the necessity of disciplined fiscal management and substantive institutional changes in the forthcoming Union Budget.

CII's recommendations span over several macroeconomic dimensions, such as bolstering the tax-GDP ratio through advanced analytics, adhering to a strategic debt management path, and initiating a comprehensive privatisation strategy. The body also urges focus on high-impact sectors like education and health, alongside subsidy reforms for improved fiscal efficiency.