India Inc Advocates Tax Cuts, Capex Boost, and Inflation Control Ahead of Union Budget

India Inc pitched for reducing the income tax burden, increasing capital expenditure, and controlling food inflation during their pre-Budget consultation with Finance Minister Nirmala Sitharaman. Industry leaders emphasized infrastructure development, supporting MSMEs, and promoting innovation to sustain economic growth. Recommendations also focused on ease of doing business and fiscal consolidation.

In a crucial pre-budget consultation, industry leaders from India Inc urged Finance Minister Nirmala Sitharaman to lower the income tax burden on the common man, ramp up capital expenditure, and take decisive measures to control food inflation. The economy-focused session aimed to set the stage for the Union Budget.

During the nearly two-hour discussion, business heads emphasized the importance of infrastructure development, which they believe is essential for sustaining the nation's economic momentum. The focus also fell on strengthening the MSME sector, seen as the backbone of job creation in India.

Key recommendations included tax relief for lower-income brackets, streamlining employment-linked incentives like the Production Linked Incentive (PLI) scheme, and measures to promote ease of doing business. Industry bodies like CII and Ficci also highlighted the need for innovation, research, and development to keep pace with global advancements.

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