Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman held her 6th Pre-Budget Consultation with leading Industrialists here today in connection with the forthcoming General Budget 2020-21.Along with the Union Finance Minister, the meeting was attended by Shri Anurag Singh, Thakur, Union Minister of State for Finance & Corporate Affairs; Shri Rajeev Kumar, Finance Secretary; Shri Injeti Srinivas, Secretary, Ministry of Corporate Affairs, Secretary; Shri Atanu Chakraborty, Secretary, DEA; Shri Ajay Bhushan Pandey, Revenue Secretary; Shri Tuhin Kant Pandey, Secretary, DIPAM, Shri Guruprasad Mohapatra, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT); Shri Amit Yadav, DG, Directorate General of Foreign Trade; Shri Pramod Chandra Mody, Chairman, CBDT; Dr K.V. Subramanian, Chief Economic Adviser besides many senior officials of the Ministry of Finance.During interactive session lasting over 2 hours , prominent Industrialists spoke about improving regulatory environment to safeguard investments through Ease of Doing Business, increasing export competitiveness, reviving private investment and kick-starting growth of economy.Industrialists suggested many ways to boost the rural economy, especially ways to increase consumption.
Other suggestions included ideas to improve IBC in relation to NCLTs and banks; faster mergers, acquisitions & demergers processes , ways to reduce time for FDI approval; structural changes in laws for effective and stable business environment; time-bound decisions for augmenting Ease of Doing Business both at Central & State levels; new investment of capital for building infrastructure; CAPEX for infrastructure to boost economy; preventing predatory pricing and dumping in India; facilitating R&D in India to boost Make in India; harnessing Public-Private-Partnership (PPP) by leveraging social funding through a new programme; ensuring liquidity for NBFCs with focus on rural economy and ways to increase consumption in economy.Leading Industrialists who participated in the Pre-Budget meeting included Shri Sunil Bhrati Mittal, Founder & Chairman of Bharti Enterprises; Shri B.V.N. Rao, Business Chairman, GMR Group; Shri Vipin Sondhi, Managing Director and CEO, Ashok Leyland Ltd.; Shri Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group; Shri Jatin Dalal, Global Chief Financial Officer (CFO), Wipro Ltd.; Shri Manoj Chugh, President, Group Public Affairs and Member-Group Executive Board, Mahindra & Mahindra Ltd.; Shri Ravi Raheja, Group President, K Raheja Corp Group; Acharya Balkrishan , Chairman Patanjali Ayurved Ltd.; Shri Vikram Kirloskar, President, CII; Shri Sandip Somany, President, Federation of Indian Chambers of Commerce and Industry (FICCI); Shri Balkrishan Goenka, President, ASSOCHAM among others.