The four pitfalls

Avoiding policy flaws more important than fulfilling India Inc's Budget wish list

In its pre-Budget meetings with finance ministry mandarins, India Inc is reported to have asked for relief in direct tax rates for those with a taxable income of up to Rs 20 lakh, a reduction in excise duty on petrol and diesel, an increase in minimum wages to be paid under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and an increase in the amount paid to farmers under Pradhan Mantri Kisan Samman Nidhi or PM KISAN. One of the industry bodies has also asked for rationalising the goods and services tax (GST) into a three-rate system