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Industry wants lowering of MAT rate in 'big-bang' Budget

FM and his team hold pre-Budget consultations with key industry chambers

Jayshree P Upadhyay & Arup Roychoudhury  |  New Delhi 

bodies on Tuesday urged Finance Minister Arun to lower the minimum alternate tax rate to 10 per cent and remove inverted duty structure, in the coming Budget, to boost the country’s manufacturing activity and give a fillip to the ‘Make in India’ programme.

In pre-consultations with and his team, the — the Confederation of Indian (CII), the Federation of Indian of Commerce and (Ficci) and the Associated of Commerce and (Assocham) — said the next should be a big-bang one.

They also pressed for a stable tax policy and expeditious implementation of the goods and services tax (GST). The government has already tabled the constitutional amendment Bill for implementation of GST in the Lok Sabha.

The representatives also sought clarity in the country’s foreign direct investment (FDI) policy across sectors, with better Centre-state relations, to improve business confidence.

President said 2015 was poised to be a game-changer for reviving investment, economic growth and job creation, enabled by the next-generation reforms to fast-track India’s economic resurgence.

was confident the government would live up to the expectations and deliver a ‘big-bang Budget’ this year, Kapoor said.

Besides Kapoor, among others who interacted with and his team were President Ajay Shriram, Ficci President and Chairman