India Inc Expects Tax Reforms, Financial Balance From Budget 2015
KOLKATA: India's industry chambers want the coming union budget to carry out financial reforms especially in taxes, and promote "Make In India" by balancing the fiscal factor.
While industry body Federation of Indian Chambers of Commerce and Industry is expecting Finance Minister Arun Jaitley - set to unveil his second budget Saturday - to step up action on ease of doing business and simplify the tax structure, Confederation of Indian Industries feels revenue expenditure needs reduction while the capital expenditure should go up to boost the Make in India campaign.
"The various announcements made by the government over the course of last seven to eight months did have a positive impact on the sentiment of the business community; however in order to sustain this buoyancy, it will be important that the process of implementation of these reforms continues with momentum," FICCI said in a statement.
It also pitched for labour reforms and incentives for sectors including manufacturing, infrastructure and real estate in the forthcoming budget.
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