The FY22’s growth will be 9.5 per cent and next financial years growth will be 8.5 per cent, he said Industry chamber CII President TV Narendran, on Thursday, pointed out that focus on investment and infrastructure must continue with Budget 2022 because while the private sector investment is coming back, the economy needs to be supported by government investment particularly with a focus on infrastructure.
Speaking to PTI, he also underlined the need to continuously focus on the cost and ease of doing business, to reduce the complexity and make it easier, adding that CII has suggested self-certification (by businesses) as a way forward for compliance matters, and suggested developing a cost of doing business index. Moreover, he also pitched for coordinated actions by the Center and state governments to minimize the impact of Omicron on the economy amid the rising fears of business disruption due to the new coronavirus variant.
“There is some concern about Omicron but I think the general feedback we have is, it is spreading fast but the health impact is milder,” Narendran told PTI in
an interview. The economic impact of the third wave can be minimized if there is a coordinated response between the central and the state governments, he added.
Moreover, he observed that the recovery for most sectors has been strong in 2021. Also, Read 7th Pay Commission:Central govt employees could get Rs 4,500 extra with January salary, check how He also shared Cll’s estimates for economic growth and said that the FY22’s growth will be 9.5 per cent and next financial year’s growth will be 8.5 percent.