January 3, 2017

Discussion on benefits of demonetisation & measures to revive investment spirit became the highlight of CII meeting

The “benefits” of demonetisation and ways of reviving the investment spirit were among the major issues that were discussed at a meeting of the National Executive Council of the CII, which was attended by Union Coal and Power Minister Piyush Goyal.

Addressing a press meet later , Mr Goyal said: “At the national council of CII, a number of important issues relating to the Indian economy and different sectors of Indian industry were discussed. And of course a lot of discussions about the benefits of the demonetisation took place.”

He said that steps needed to revive the investment-spirit and to address the disruptions in a few sectors were addressed. This was done “to restore growth of the Indian economy,” he said.

The minister said that the entire assembly of leaders have unanimously welcomed the move towards corruption-free industry to promote digital transactions and to have a black-money free economy. “ It will help widen tax base and reduce inflation,” Mr. Goyal said. Industrialists present at the meeting said that industry flagged people’s apprehensions on the move. They also pressed for urgent implementation of GST.

Mr. Goyal said that cash-flow has now improved and thrust was now on rural areas where flow of money was being increased. “The cash limit at ATMs will also go in course of time”, the minister said.

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