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The Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. A few key steps as suggested by CII that would help to rationalise and simplify taxes are as follows.
As many as 43,904 refund claims from MSMEs worth Rs 700 crore were settled by the government under the Vivad se Vishwas-I scheme. The scheme allows MSMEs to claim a refund of 95% of performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 pandemic.