Finance Minister holds pre-budget consultation with the representatives of industry, services and trade groups- (Press Information Bureau) (17 Dec 2019)

MANU/PIBU/2112/2019

Civil

Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, held third Pre-Budget Consultations with stakeholder Groups from Industry, Trade and Services Sectors in connection with the forthcoming General Budget 2020-21 here today.

The main areas of discussion during the aforesaid meeting included regulatory environment impacting private investment, measures for promotion of exports amidst rising protectionist tendencies, Industrial production, logistics, Media & Entertainment services & IT & IT enabled services among others.

With a view to give boost to Indian economy, the representatives of Industry, Services and Trade Sectors submitted several suggestions concerning Ease of doing business for going concern by reduction of compliance burden , reduction of tax litigation , allowing self-certification in low risk industry , decriminalisation of Tax and Company Laws , reduction of cost of equity capital , simplification and rationalisation with regards to duties and labour laws , adoption of international standards of Alternative Dispute Resolution , Export Development funds for helping MSME exporters , ease of investment flow into manufacturing sector.

Tags : PRE-BUDGET CONSULTATION REPRESENTATIVES INDUSTRY