As a part of the pre-budget consultation exercise, the Finance Minister has already met with agriculturists and will meet representatives of social sector later today.
Finance Minister Arun Jaitley will meet captains of Indian industry to elicit their views on the budget, which is likely to be presented in the first week of July.
Also Read: Signals, roadmaps to be watched in Jaitley's maiden Budget
As a part of the pre-budget consultation exercise, the Finance Minister has already met with agriculturists and will meet representatives of social sector later today. 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 non-adversarial, conducive and fair tax regulatory environment. The sub-five percent 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 percent in 2013-14 and 4.5 percent in 2012-13 fiscal. The manufacturing sector contracted by 0.7 percent in 2013-14. It grew by 1.1 percent in the earlier fiscal.
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