New Delhi, Feb 28 : The Confederation of Indian Industry (CII) on Thursday welcomed the Union Budget 2013-14, saying the theme of high growth rate and inclusive development has been maintained by the government, which would kick-start the next cycle of investment in the country.

Malvinder Mohan Singh, chairman, CII (NR) and executive chairman of Fortis Healthcare Limited, said: “There is something for all sectors as the theme of high growth and inclusive development has been maintained. There is a strong focus on the social sector with a 30 percent additional allocation, emphasising health and education.”

“Outlay on rural development is up 46 percent and infrastructure has been given a significant boost. The initiative for a women’s bank, a first in the world, is laudable. The additional infusion of Rs. 14, 000 crores in PSU banks, the commitment to the development of a pervasive ATM network and greater flexibility for banks in retailing financial products, including micro insurance, are all welcome steps,” he added.

Deep Kapuria, chairman, CII (National Committee on MSME) said: “Given the economic circumstances in which the Union Budget 2013 was presented, the Finance Minister has done a commendable job for the SMEs - while on one end he has given support to the Start-ups/First Generation Entrepreneurs through listing on SME Exchanges without an IPO and encouraging the establishment of Incubators, however, on the other hand he has extended the preferential benefits for the SMEs for 3 years, after they outgrow the MSME category.”

Vinayak Chatterjee, another chairman of the CII (National Task Force on Infrastructure Projects) said the major ‘breakthrough idea’ in this budget is the independent regulator for the roads sector. (ANI)