The stakeholder groups have made a number of suggestions for the upcoming budget.
New Delhi:
Reducing income tax for individuals, introducing programs to generate employment, increasing spending to stimulate the economy and incentives for certain industries were the common pleas during the pre-budget meetings that Finance Minister Nirmala Sitharaman held with stakeholders.
Nirmala Sitharaman held eight rounds of talks, starting with India Inc on Nov. 21 and ending with a round of talks with economists on Monday. The 2023-2024 budget was due to be submitted to parliament on February 1.
The representatives of the stakeholder groups made a number of suggestions for the upcoming budget, including a green certification mechanism to help MSMEs, an urban employment guarantee program to boost job generation and income tax rationalization, the Treasury Department said.
Schemes to improve domestic supply chains, cut taxes on electric vehicles, introduction of EV policies, measures to promote India as a green hydrogen hub, portable social benefit for children, coverage of disorganized workers under Employees State Insurance Corporation ( ESIC) also appeared in the question.
In addition, continued public investment, fiscal consolidation and lower customs duties were among the suggestions received by stakeholders.
“More than 110 invitees representing 7 stakeholder groups participated in 8 meetings,” the ministry said, adding that Sitharaman assured that suggestions would be carefully considered when drafting the 2023-24 budget.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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