Industry Bodies Advocate for Tax Cuts and Anti-Dumping Measures Ahead of Union Budget

Representatives from industry bodies urged for reductions in personal income tax and excise duty on fuel at a pre-Budget meeting with the Finance Minister. They also addressed issues like China's stock dumping and the global climate emergency. Suggestions focused on boosting consumption, employment, and simplifying procedures for MSMEs.

Industry leaders have called for reduced personal income tax and excise duty on fuel in a pre-Budget meeting with the Finance Minister. These measures aim to increase disposable income for the middle class and stimulate employment-heavy sectors.

The discussion also covered global economic challenges like stock dumping by China and the climate emergency's impact on food security and inflation. Industry representatives highlighted the need for government actions to bolster sectors with significant employment potential and simplify MSME operations.

The meeting, attended by key government figures, saw unanimous calls to streamline GST procedures and offer income tax relief to spur demand and mitigate inflation.

(With inputs from agencies.)