Industry suggests FM to increase Capex, restructure GST slabs and give relief to taxpayers
New Delhi [India], June 20 (ANI): As part of pre-budget deliberation, industry representative bodies met Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Wednesday in the national capital.
During the meeting, industry representatives demanded the restructuring of GST tax, lowering of tax, and increased capital expenditure.
The meeting was attended by CII President Sanjiv Puri, Sanjay Nayar, President of Assocham, and Subhrakant Panda, Immediate Past President of FICCI, among others.
During the meeting, CII suggested the government increase capex spending by 25 per cent over the revised estimate of FY24, adding that the enhanced capex is to be considered for deployment in rural infrastructure. It demanded a high-powered expert group be set up to review the FRBM Act. Enacted in 2003, the aim was to improve fiscal management and public fund management.
