What India Inc Wants From Budget 2013?

Bangalore: The upcoming Union Budget looks pretty uninteresting for India Inc. Almost everything is the same old in it. Even though CII, Ashocham and Ficci met the finance minister recently, their discussions were as same as to the discussions of the other times. The focus of the Government was more on taxes, investments and also on the recent hike of the railway fares. The Government decided to keep important issues like GAAR (General Anti Avoidance Rules) silent till 2016.

Despite of the several appeals of the chambers like lowering the import duties, early implementation of the GST (Goods and Services Tax) regime, etc. there was nothing new. However the topic on the ‘Inheritance Tax’ was one of the highly discussed topics on that meet. The representatives opposed this tax strongly.

According to Naina Lal Kidwai of Ficci, this type of taxes should not be imposed. She also added “in a hurry and without extensive debate which must necessarily encompass the societal ramifications as these are likely to be significant.”

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