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India's Industry Groups Call for Income Tax Reductions to Stimulate Demand

share-iconTuesday, December 31 comment-icon1 month ago 8 views
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indiatimesINDIATIMES
India's Industry Groups Call for Income Tax Reductions to Stimulate Demand

Credited from: INDIATIMES

  • Industry bodies are requesting a focus on **income tax cuts** to drive demand during budget discussions.
  • CII President **Sanjiv Puri** proposed reducing the personal tax rate for incomes up to Rs 20 lakh and lowering excise duties on fuel.
  • Recommendations include a **25% increase** in government capital expenditure and improved credit flow for **MSMEs**.
  • Organizations emphasized the importance of **public spending** and infrastructure development to maintain growth momentum amid global challenges.
  • Ficci also suggested **tax exemptions** related to childcare to support women's workforce participation, alongside sector-specific measures across various industries.

For more details, visit the original article here.

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Income tax Demand Public spending Budget Small businesses MSMEs
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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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