 "Sanjiv Bajaj")
Ahead of the 2023 Union Budget, the Confederation of Indian Industry (CII) has proposed that the Centre rationalise personal income tax to boost consumption, continue supporting investment through higher capital expenditure, and crack the whip on non-essential expenditure. The body also said that a fresh look was needed at capital gains tax rates and holding period to remove complexities and inconsistencies.
Finance Minister Nirmala Sitharaman will begin her pre-Budget consultations with stakeholders on Monday, and the first meeting will be held with industry bodies. A part of CII’s pre-budget memorandum to the finance ministry, Sanjiv Bajaj, president, CII, said: “The
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