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Ahead of the Union Budget, the Confederation of Indian Industry (CII) has urged the Government to explore non-tax options of collecting revenue and flag-off strategic sale of loss making PSUs.
CII said that it is hopeful that Finance Minister Arun Jaitley would keep a firm focus on fiscal prudence and stay the course on fiscal discipline.
The Centre could look at non-tax revenue options such as hastening disinvestments, effecting dilution of residual Government shares in private companies as well as going ahead with sale of spectrum and mineral blocks, the industry chamber said in a statement.
“Another measure is to flag-off strategic sale of loss making PSUs,” it said, adding that the Centre could look at starting the process of monetising unutilised and underutilised Government land available with railways, port trusts, etc and use it to finance infrastructure development.
Chandrajit Banerjee, Director-General of CII, said, “The Budget can look to pare Government stake in public sector banks to 51 per cent.”
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