Pre-Budget Discussion by Associated Chambers of Commerce and Industry of U.P.

What the Industry Wants and Desires

Lucknow: As union Government prepares for the Union Budget 2025-26 ,Assocham UP leaders and members met today to discuss the expectations , the session was Convened by Er. D P Singh, President Assocham UP -UK , co convened by ShriMukeshBahadur Singh, Senior Vice president ( Government affairs ) , moderated By Shri Ajay Prakash  professor Lucknow university .

The industry expectations are high for reforms to boost the economy.

The discussion centered around key expectations from the upcoming budget, the incentives and promotions required by the industry, and opportunities for economic growth and development.

Keynote Address:

The session was moderated by Professor AjaiPrakash, Department of Management, University of Lucknow, who set the tone for an engaging and insightful discussion.

Panelists:

The event featured distinguished panelists, including:

D.P. Singh

L.K. Jhunjhunwala

MukeshBahadur Singh

PramodVaish

Shailendra Jain

Key Insights Shared:

  • Er. D.P. Singh, President: He highlighted Uttar Pradesh’s alignment with the national target of becoming a $2 trillion economy and credited Chief Minister Yogi Adityanath’s efforts in making the state a hub of religious tourism. He emphasized the need for a special manufacturing policy to boost industrial growth.
  • MukeshBahadur Singh: Stressed the importance of providing quality education to encourage students to pursue higher studies in India instead of abroad.
  • Mr. PramodVaish: Advocated for the abolition of mandi tax for those not utilizing mandi services. He also suggested that essential daily-use edible items in small packages should not attract a 5% GST, which would help curb food inflation.
  • Mr. Shailendra Jain: Representing the perfume industry, he recommended that perfumery not be treated as a luxury item, noting that many daily-use products such as soaps and oils contain perfumes but are not considered luxury items.
  • Mr. MohdAdil (IDFC Bank): Called for better channelization of funds to provide capital for industries and suggested that the government hire consultants to educate businesses on subsidies and banking norms.
  • Mr. L.K. Jhunjhunwala: Proposed that the government shift from leasing land to selling it outright to industries, reducing uncertainty. He also advocated for the introduction of a Production Linked Incentive (PLI) scheme to incentivize production and exports.

Closing Remarks:

Professor AjaiPrakash summed up the discussion by emphasizing the constructive nature of the recommendations and expressed optimism that the government would positively consider these suggestions. The session concluded with a vote of thanks who thanked the panelists, attendees, and organizers for their valuable contributions to the discussion.

The discussion was attended by ShriVineet Gupta, ShriAjaiSrivastava, ShriAbhitoshAsthana, ShriDheerendra Singh, ShriAbhishekMathur.

 

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