The Confederation of Indian Industry (CII) has welcomed the Union Budget 2013-14, calling it growth and investment oriented.
A statement from Chandrajit Banerjee, Director General, CII, said while addressing fiscal consolidation, the budget focuses on inclusive and sustained human development.
Commendable initiatives have been taken in critical sectors such as agriculture, investment in manufacturing and infrastructure, MSME growth and capital market development among others, it added.
The statement also said that CII lauds the announcement of 15 percent investment allowance to kickstart capital formation.
CII particularly welcomes the enhanced outlay on education, healthcare and skill development with a view to increasing opportunities for the youth, the statement added. (ANI)