• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

NEW DELHI, Feb. 16

THE latest snap poll conducted by the Confederation of Indian Industry (CII) shows that more than 87 per cent of the chief executive officers (CEOs) are of the opinion that the Government should go ahead with the implementation of value added tax (VAT) in the forthcoming Union Budget.

In a statement, the chamber has said that implementation of VAT would streamline the taxation system and enhance the competitiveness of domestic industry. The chamber has said that the process of implementation should be initiated, even if it was limited to the States that had in place the proper legislation and infrastructure.

When asked on the implication of the expected war between the US and Iraq, 67 per cent of the CEOs stated that there would only be a moderate negative impact on the growth prospect of the domestic industry. Twenty three per cent of the CEOs said that there would be a significant negative impact and the remaining 8 per cent were of the opinion that there would be no impact of the expected war.

However, 79 per cent of the respondents felt that increase in inflation as a result of the war would be moderate, while 13 per cent felt that the impact would be significant. Only 8 per cent of the respondents felt that there would be no impact of the war on inflation in India.

A majority of the CEOs felt that the costs involved in implementing the recent Government announcement of increasing the cover provided by strategic oil reserves from the existing 15 days to 45 days would be off set by the benefits that would accrue.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Key economic Bills await Parliament nod

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line