CII urges ₹3-lakh crore stimulus

CII urges ₹3-lakh crore stimulus

Subject : Economy

Context : Mooting ‘urgent’ fiscal support to shore up the economy, industry body CII on Thursday said the government has room to provide a ₹3-lakh crore stimulus and advocated a reduction in fuel taxes and enhancement in cash transfers to households to revive demand.

Concept :

• Confederation of Indian Industry (CII) president T.V. Narendran called for employment generation to be the central focus of policy measures and an expansion of the central bank’s balance sheet to accommodate a fiscal push of 1.3% of GDP.

Confederation of Indian Industry (CII)

• CII is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India’s development process.
• Founded in 1895, India’s premier business association has around 9000 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 300,000 enterprises from around 276 national and regional sectoral industry bodies.
• It works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes.