Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd :: VAT RATES :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company
« Budget Extravaganza »
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget
 Cabinet’s formal nod to be sought for Budget on Feb. 1
 Finance Ministry may talk to EC before finalising Budget date
 Govt starts biggest ever overhaul of Budget
 How does an early budget impact you
 Welcome steps to overhaul the Budget

Budget 2011: Strong case for continuation of stimulus package: ASSOCHAM Survey
February, 08th 2011

In the view of continuous elevated inflation and increase of price of commodity across globe, has made out a strong case for continuation of stimulus package so that the growth momentum is not spiked, says a random Survey of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

In India Inc.'s Pre-Budget Expectations Survey conducted under aegis of The Associated Chambers of Commerce and Industry of India (ASSOCHAM) with participation from its 1000 CEOs were consulted by ASSOCHAM Research team concludes that Finance Minister would focus more on to sustain current growth momentum for which continuation of fiscal concessions would have to be retained.

85% of CEOs belonging to large, micro, small and medium enterprises polled in ASSOCHAM Survey held that stimulus package for textiles, gems & jewellery, construction and real estate, cement and steel etc. should continue for the next fiscal.

In view of the unprecedent inflation particularly the food inflation, the government must increase the personal income tax exemption limit from the existing Rs. 1.6 Lakh to atleast Rs. 3 Lakhs to give adequate relief to the larger sections of the society, added the majority of the CEO's.

Remaining 160 executives, however, held that the government has already dropped sufficient hints by projecting GDP growth @ 7.5% for current fiscal that government has already made up its mind for gradual and measured phase out of stimulus package with a view to keep the fiscal deficit under control to 5.5%.

About 240 CEOs are of the view that the procurement policy where by the government and PSU's may be directed to source their goods & services atleast to the extent of 20% from MSME sector. According to them, government may make budgetary allocations for instituting a Technology Fund for MSME sector as part Task Force recommendations.

210 CEOs have suggested that real estate still needs government to continue doles and therefore in a bid to spur up demand for dwelling units, ceiling of interest exemptions limit on housing loans should be raised to Rs.3 lakh from existing Rs.1.5 lakh. This is necessary as real estate has yet to come out from recessionary modes, they felt.

Over 300 CEOs have demanded that the Finance Minister should permit Pension Funds to invest 10-15% of their funds in Infrastructure projects from 2011-12 in a phase manner. They have also suggested that the government should re-consider for refinancing of existing rupee loans through External Commercial Borrowings (ECBs) be permitted for such projects based on interest cost advantage.

Besides, majority of the CEOs also pressed for larger and faster disinvestment in public sector undertakings, proceeds of which should partly be to fund infrastructure augmentation in PPP projects to help India grow and achieve intended growth rate of close to 9% in next 2-3 years.

They also called for rationalization of Dividend Distribution Tax (DDT) and recommended that it should be payable at one level only so that cascading effect is minimized. According to them, Infrastructure development business often requires a multi-tier corporate structure with a holding company at the top which is generally a listed entity.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions