New Delhi, July 2: The economic survey has raised industry’s hopes of a reformist and investment-oriented budget.

“Given the wide-ranging reform measures mooted in the survey, we expect a strong reformist budget,” Ficci president Harsh Pati Singhania said. The survey said there was a need to push through fiscal and other measures, including easier consumer credit, to counter a possible shortfall in private consumption.

“Tax reforms through the removal of inefficient taxes such as the fringe benefit tax, commodity transaction tax and securities transaction tax are commendable proposals,” said CII president Venu Srinivasan.

Assocham welcomed the need for divestment of government equity in navratna PSUs to contain fiscal deficit.