CII makes pre-budget recommendations to govt

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The Confederation of Indian Industry (CII) has, in its pre-funds recommendations to the authorities, has advised clarity in legislation, simplification of processes, reduction of litigation and facilitating business transitions to make business less difficult for the industry. CII also proposed a set of normal principles to guidebook the import tariff construction.

The industry human body advised a roadmap to inspire and calibrate domestic producing in alignment with world wide trade trends that would strengthen its producing capacities and enhance its export competitiveness as per shifting world wide worth chains in the following 3 to 5 many years.

The limit approved for provision for negative and doubtful debts for Indian financial institutions should be greater from the existing limit of eight.five per cent to 15 per cent, CII mentioned in a push release.

It advised a graded roadmap in direction of aggressive import tariffs around following 3 many years, with most affordable or nil slab -two.five per cent for inputs or uncooked components, optimum slab of five-seven.five per cent for final goods and two.five-five per cent for intermediates. This will aid Indian industry integrate into the world wide worth chain whilst starting to be aggressive with its products and services in the environment markets.

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The Confederation of Indian Industry (CII) has, in its pre-funds recommendations to the authorities, has advised clarity in legislation, simplification of processes, reduction of litigation and facilitating business transitions to make business less difficult for the industry. CII also proposed a set of normal principles to guidebook the import tariff construction.