Stay updated with breaking news from Udget Expectations. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Experts during the deliberation stressed better compliance processes to be put in place backed by technological support which in turn will enable tax widening and the need for strategies to strengthen tax collections from Tier 2 towns and cities to widen the tax net.
It also said to consider extended tax exemptions for sunrise and essential categories.
The Industry body has suggestd 5 prolonged strategy to revitalize the private investments including 1) enhance consumption 2) increase capacity utilization in the factories, 3) create employment 4) Enhance quality of social infrastructure 5) strengthen economic growth.
Some central trade unions had on Friday requested Finance Minister Nirmala Sitharaman to hold a physical pre-Budget meeting on Monday.
One of the budget wish lists of AIE is the abolition of capital gains tax enabling the micro-entrepreneurs to sell their property to regularise their loan accounts, settle their suppliers, and reinvest in the business.