FICCI Proposals on Budget 2007-08

By: EconomyWatch   Date: 30 June 2010

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The Federation of Indian Chamber of Commerce and Industry has recommended for almost all the key areas in the upcoming budget 2007-08. The recommendation of the chamber relating to both direct taxes as well as indirect taxes is as follows:

  • Reducing the corporate tax rates
  • Rendering tax incentives for the promotion of saving and investment of the country
  • Bringing all types of services under one tax nets
  • Larger public sector investments on infrastructure development
  • Restructuring both excise and custom duty structure
  • Some changes in Fringe Benefit Taxes
  • Special attention should be given on the development of world class infrastructure
  • Granting 100 percent tax holidays for 10 consecutive years to all industrial undertakings.
  • Providing cross subsidies to rail transport to be phased out
  • Subsidized pricing on oil and electricity should be phased out.


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