Delhi budget to encourage industries: CII

Hailing the Delhi government for incorporating many of its suggestions in the annual budget presented on Thursday, Industry body CII on Friday said the measures announced will encourage industries and boost implementation of projects related to urban development.

Confederation of Indian Industry (CII) members also appreciated the state Government for incorporating many of recommendations and suggestions submitted by it.

"CII is encouraged...It was truly participative with active involvement of all stakeholders. It is heartening to see that the Government shares CII's vision of making Delhi a Knowledge and Skill Hub with its clear focus on areas like education and skill development," said Shreekant Somany, Chairman, CII Northern Region and Chairman & Managing Director, Somany Ceramics Limited in a release.

Welcoming increased funding for education, CII said is it indeed an investment for the future.

CII said the budget will encourage industry in Delhi with the focus on ease of doing business by reviewing the existing licensing system and simplifying the procedures.

It also complimented Delhi Government on constitution of Delhi Urban Development Agency, which will strengthen implementation of projects related to Urban Development across all constituencies.

On revised tax regime, Vice Chairman of CII Delhi State Council Madhav Sriram said it is a welcome step in the right direction.

"He said that with the focus on compliance and revision in processed, the trader and retail community in Delhi will be immensely encouraged," said Sriram, Director, DCM Shriram Industries.

Rahul Munjal, CII Delhi Panel on Environment and Sustainability, and MD Hero Future Energies said expanding the green cover in Delhi, stringent checks on pollution, levying an entry fee on heavy goods diesel vehicles will help improve the air quality and environment in Delhi.

CII also said that Delhi has the potential to be a World Class Tourist Destination.

"It has submitted that the government must look at promoting the sector by giving the tourists an incentive to come back. The culture and heritage of Delhi must be harnessed actively, according to CII's pre-budget proposals," said the release.