India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Corporates are not really expecting a change in the capital gains taxation
'You have to explain to them about Indian investments in the US creating jobs this reverse outsourcing'
Here's what India Inc expects from the Finance Minister.
But industry needs to take up the issue at the highest level, business groups need to set aside their differences and work together, inconceivable as the idea may seem. It would be a pity if the corporate sector were to keep quiet this time.
Boost to dairy sector will generate jobs
Apprehensive that the Reserve Bank may tighten the screws on money supply to rein in the wayward inflation, the industry said the central bank should refrain from taking any knee-jerk reaction.
India Inc can immensely contribute in this area. Indian managers at McKinsey, BCG, Hindustan Unilever, TCS, etc. can write the processes, help train our people. India is an IT superpower. Companies like Infosys and TCS can help develop a technology strategy for the nation's security.
With the prices touching a two-year high, CEOs of leading companies expect a cut in corporate tax and measures to boost the capital markets in the Budget 2007-08 to be presented on February 28.
Industry captains share their views on the Budget.
India Inc's reactions to the RBI rate cut.
The Budget, will be a mega-signalling device in terms of policy, as well as a document outlining public finance projections.
Industry representatives recommended that the basic annual exemption limit for individuals should be raised to Rs 1,50,000 from Rs 1,10,000 and the peak income tax rate be cut to 25 per cent, from 30 per cent at present.
The capital raised by Indian companies in the 2010 calendar year was over one-third more than the Rs 1,50,000-crore (Rs 1,500-billion) mop-up in the previous year and was a beacon of hope in a global economy that has been witnessing turbulence on account of the poor health of Western economies.
Finance Minister P Chidambaram announced the Union Budget 2013-14 in Parliament on Thursday.
The latest crisis in the form of default to bondholders can be a crippling blow.
Yunus will teach India Inc why and how social business is not charity but business wherein a surplus is passed on to the target group of beneficiaries in the form of lower prices, better service and greater access
Aggressive Hindutva elements have also disappointed industry captains
While some companies used that to become world leaders, others squandered it by over-borrowing.
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