High Consumption At Rock-bottom Tariffs Killing Telecom.

Billionaire Sunil Bharti Mittal on Thursday said a combination of rock-bottom tariffs and high consumption is killing the telecom industry and sector regulator Trai needs in urgently intervene to strike a balance between the needs for protecting investments and consumer interest.

 Union Finance Minister Nirmala Sitharaman and her Budget team met representatives of India Inc and trade unions for Pre-budget consultation. Where the industrialists asked the center to take more action in doing business, trade bodies stressed minimum wages, an  income tax ceiling, and pension.The industry representatives of Pre-budget meeting  include Bharti Enterprises Chairman Sunil Bharti Mittal, Confideration of Indian Industry President Vikram Kirlosker and Assocham President Balkrishna Goenka asked officials to “create more freedom for industry to perform.

Several issues where highlighted by the corporate leaders, including income tax roadblocks coming in the way of mergers and acquisitions or showing business.After meeting Mittal told to media person about his view of doing business easy in the country.The idea is to create more freedom for industry to perform. Assocham President Balhrishna Goenka also express his similar view about ease of doing business.

The interaction section lasting over two hours, prominent industrialist spoke about improving regulatory environment to safeguard investments to ease of doing business, increasing export competitiveness, reviving private investment and kick starting growth measures. These are the statements said them after the official meeting.

In  earlier day trade union argued the government to provide a minimum wage of 21000 rupees, minimum pension of 6000 under the employees pension scheme and tax exemption on annual income of up to 10 lakh rupees. The union raise concerns over raising unemployment in the country. During the meeting they suggest about massive investment in infrastructure, social sectors and agriculture would generate employment and Union Budget should take this into priority.

They demanded about the fresh recruitment in all vacant posts in various government departments including railways, PSUs and autonomous institutions. And they suggested the finance minister that ban on creation of new positions and mandatory reduction of government posts should be lifted.