Finance Minister Arun Jaitley has asked the business leaders for making investments in infrastructure sector to build a stronger India.
He said the private investment along with public and foreign investment is key to boost growth and create job opportunities.
The Minister was holding his pre-budget consultation meeting with the representatives of Indian Trade and Industry in Delhi today.
Highlighting the importance of investment in infrastructure sector, Mr. Jaitley said the Government has taken various steps in this regard and has also set-up National Investment and Infrastructure Fund among others.
The suggestions which were made in the meeting included permitting the purchase of Banks’ Recapitalization Bonds by the Institutes and the public at large, allowing banks to securitize their loans and setting-up of Land Bank Corporation for monetization of Government lands.
Other suggestions include a reduction in dividend distribution tax and to bring down the maximum rate of Income Tax to 20 per cent to encourage investment and to bring a scrapes scheme to take more than 15 year old heavy commercial vehicles off the road.
Mr Arun Jaitley also had a Pre-Budget Consultations with stakeholders groups from social Sector.
In his address, Mr Jaitley said, the government is fully committed to ensuring cost-effective fund utilization of the welfare schemes spanning the various Social Sector Ministries.
The Finance Minister welcomed the suggestions of the representatives desiring greater allocation of funds for Child protection schemes, nutrition security concerns, healthcare for the elderly and incentives to ensure better employment conditions for working mothers.
The Finance Minister also agreed with stakeholders demand that Administrative Ministries should release Welfare Schemes funds on priority to beneficiaries.