union budget: Government should include industrial strategy in Union Budget, says CUTS International

Economy


New Delhi: Research firm CUTS International on Tuesday suggested that the government should include an industrial strategy in the next Union Budget to enable convergence in policy initiatives. In its pre-Budget submissions made to the finance ministry, it also said there is a need to avoid inconsistencies in design and implementation of government policies.

“Expensive raw material, logistics, and power costs have prevented industry from competing internationally,” Pradeep Mehta, Secretary General of CUTS International, said in a statement.

There is a need for “an industrial strategy to implement whole of government systems approach in policy design and implementation, and achieving convergence,” he said.

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Further, he suggested that a National Competition Policy and Regulatory Impact Assessment should be adopted.



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