India Incís demand to lower Corporate Tax : Hoping for a favorable Budget 2015

08-01-2015

Indian corporates demand for a lower Corporate Tax rate and disinvestment in the Government Stake in the public sector units and eye to have a higher personal tax exemptions limits. Despite all a huge expectation for the increase in the public expenditure to boost growth and the development in the country is the need from this budget 2015.

Also, In the pre budget consultations with the Finance Minister Shri Arun Jaitley, the industrialists have raised the concerns for easing the bank finance with subsidized interest rates by the Reserve Bank of India.

This will be the first full budget of the new NDA Government who will set the Economic Agenda for the next four years which will be beneficial for the country as a whole and certainly will chart out new ideas and initiatives to make the recovery process more robust.

Further other improvement measures have been taken to boost the agricultural growth , creation of jobs and improving the norms of doing business in India.

Here are some of the top ice breaking agendas that the Indian Incorporation wants from the Budget 2015:
1. Extend Dividend Distribution Tax exemption to REIT’s and INVIT’s
2.Extending investment allowances to the Infrastructure sector
3. Exempting infrastructure projects from the requirement to pay Minimum Alternate Tax
4. MAT should be reduced to 10% and SEZ’s should be exempt from it
5. Setting up of an Export Development Fund
6. To improve the Business Environment
7. Greater public investment in Infra Sector
8. Lower Interest Rates to boost consumer and housing demand
9. Continue Fiscal prudence and remove surcharge to spur spending
10. Higher Section 80C Incentives to increase financial savings
And many more.

All the eyes are on the full fledged budget 2015 by the new Government which  will be released in February last week and the countrymen are very much hopeful to receive a splendid New Year 2015 gift from the Finance Minister.