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Model budget by CII – a welcome proactive approach

CII Chairman (SR), Sanjay Jayavarthanavelu indicated CII’s plans to produce a model state budget with emphasis on fiscal discipline. The industry has the resources and should be proactive and not be content with reacting to budget proposals.

Jurist N A Palkhivala made post-analysis of Central budgets, much-awaited calendar events. The famous lawyer, with his brilliant oration, used to enthrall audiences on critical analyses of the Central budgets. Packed halls would listen with rapt attention to Palkhivala’s masterly analyses with comparisons on global economies tinged with humor. NDTV’s Prannoy Roy continued with this as a mega annual event.

IE has been pointing to the limited utility of reactions to budget. We have been suggesting a proactive approach. The large news television companies and industry associations have the resources and expertise to work on a model budget well ahead of its presentation in the Parliament. This can reflect the expectations of different sectors, including industry as also suggest the means to raise the needed resources. Such an effort will hone skills to look closely at fiscal issues. Over time such expertise would also emerge outside the government.

In this context, it was interesting to hear CII (SR) Chairman, Sanjay Jayavarthanavelu, indicating CII’s plans to produce a model state budget with emphasis on fiscal discipline.
In an interaction with media, Sanjay pointed to pre-eminence of the south in sectors like automobiles, IT/ITEs, healthcare, biotechnology and textiles as also to the vast scope in industries like defense, aerospace, ports, infrastructure, and logistics.

The CII Chairman described focus areas as the ease of doing business, education and skill development, MSMEs and start-ups. The charter for southern prosperity includes policy and regulatory excellence, enhancing core competitiveness, employment generation, and livelihood creation, strengthening the small and medium businesses and entrepreneurial ecosystem to include bridging the rural-urban divide.

Focus on the restoration of water bodies in southern states

The plan of CII to emulate successful practices in one state by others is welcome. Sanjay referred to such success in water conservation and use in Karnataka. The CII-SR water alliance would focus on restoration of over 15 water bodies in southern states. This is of particular importance in the context of the severe water crisis suffered in several parts of the country.

Sanjay is the fourth generation scion of the famous Lakshmi Group of companies that pioneered textile and textile machinery business in the south. Lakshmi Machine Works, headed by Sanjay, manufactures a vast range of textile machinery that enjoys lead custom both within the country and across the globe.

Sanjay had his post-graduate education as also a MBA from Philadelphia, USA.

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