CII submits pre budget memo

The Confederation of Indian Industry has reiterated on taxation, policy and administrative issues and also on issues mandating special provisions in the state budget.

In its a pre-budget memorandum to the state government, CII recommended that the state should focus on raising revenue without widening the tax net and simplifying the tax procedures.

There is also an urgent need at compressing expenditures without sacrificing the growth momentum by reducing transaction costs, promote private investment in infrastructure and unlock supply potential of the agriculture sector for market linkages.

According to the CII, the memorandum suggested substantially increasing the budgetary allocation to the Industries Department as it impedes in planning various measures to boost industrialisation. /