India Inc.'s budget requests: continuation of the current corporation tax rate and PLI expansion
On Thursday, heads of industrial advocacy groups and notable figures from the stock market participated in a pre-Budget consultation meeting presided over by Finance Minister Nirmala Sitharaman.
The Indian industry has sought to maintain the status quo for corporate tax rates and to expand the government's flagship Production Linked Incentive (PLI) scheme to labor-intensive sectors that were hardest hit by the demand slowdown in the West after the Covid-19 lockdowns. This is because private investment remains a source of concern.
In the presence of senior Finance Ministry officials, Finance Minister Nirmala Sitharaman conducted a pre-Budget consultation meeting on Thursday with notable capital market participants and heads of industry advocacy groups. They talked about everything from persistent food inflation to the difficulties in the green transition.
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