Hi,
Please find below a quote from Ajay Nanavati, Managing Director, 3M India regarding the company’s expectations from the Union Budget 2009-10. Photograph attached.
“We expect the upcoming Budget from the Manmohan Singh government, to focus on measures to stimulate demand in the domestic economy and at the same time ensure more purchasing power for the consumers while adding more liquidity for India Inc. Looking at the current economic situation, significant improvement is required in Tax Structures, like doing away with Duty Credits, Permits and C, F forms - these steps would help accelerate growth. In addition, corporate tax rates also need to be brought down to the global average of 26-27%.
During his interim budget speech in February this year, the honorable Finance Minster had highlighted rural development, infrastructure, information technology, education, defence and banking as focus sectors for budgetary allocation. We would like to see substantive and credible initiatives being outlined to further strengthen these areas. On the infrastructure (power, ports, cement, steel, and construction) front specifically, we look forward to initiatives that encourage momentum on the public-private partnerships.”
Ajay Nanvati – Managing Director, 3M India
Warm regards,
Parikshith R. Sankritya
Senior Associate
Genesis Burson-Marsteller
THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR
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Email: parikshith.sankritya@bm.com | Mob: +91 9986362424 | Tel: +91 080 25589122 Extn: 128 | Fax: + 91 080 25589125
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