The Finance Minister Mr. Pranab Mukherjee has done a fine balancing act to sustain economic growth, curb inflation, promote inclusive growth and maintain fiscal consolidation, observed Mr. Chandrajit Banerjee Director General of CII. With the reduction in the fiscal deficit, the interest rate environment is also likely to remain conducive to growth, he said.

Mr Banerjee also welcomed that the Finance Minister has refrained from any increase in the indirect tax rates and taken forward the move towards GST. The move towards direct transfer of subsidies for kerosene, fertilizer, and LPG for BPL families will remove the inefficiencies that plague our delivery of welfare measures to under-privileged sections, he observed.