Refuelling of consumption demand must be the theme of the Union Budget FY 2021-22 to have a multiplier effect on production possibilities, capex expansion, private investments and employment creation, said the industry body PHDCCI in its 10 pronged strategy suggested to Finance Minister Nirmala Sitharaman in December during the Pre-Budget consultations.

The industry body’s 10-pronged strategy revolves around the measures aimed at refuelling consumption and demand, and encouraging private investments.

The elements of the strategy presented to the FM includes front loading of infrastructure investments, establishing DFIs to fund industrial and infrastructural investments, strengthening MSMEs, reducing the costs of doing business, ease of doing exports, increasing Tax to GDP ratio.