CBI reacts to Indian budget

The CBI reacted to the Indian Budget, delivered by Arun Jaitley, Minister of Finance and Corporate Affairs.

Ben Digby, CBI International Director, said:

“This is a budget to make life that little bit easier. This will be applauded by British companies, who employ one in twenty of the population of India in the organised private sector, and are committed to improving the lives and prosperity of people and communities across the country.

“British investors will recognise the considerable progress on economic reform the Finance Minister outlined in his statement, including the implementation of the Goods & Services Tax (GST), and measures to improve the ease of doing business, as well as a more open climate for foreign direct investment.

“While firms would have liked to hear more about measures to reduce the compliance cost of GST and corporation tax for larger investors, the announcements on healthcare provision, education, the new defence production corridor and rural infrastructure all provide great opportunities for UK plc in areas which very much play to its strengths.”