India Inc draws govt attention on ease of doing business
New Delhi, December 19
Industry leaders, including Bharti Enterprises chairman Sunil Bharti Mittal, CII president Vikram Kirloskar and Assocham president Balkrishna Goenka, on Thursday asked the government to take measures to augment ease of doing business to “create more freedom for the industry to perform”.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
“I have come here today to discuss only one thing — make doing business easy in the country. That was what my thrust was,” Bharti Airtel chairman Sunil Bharti Mittal told reporters after the meeting.
The industry representatives gave suggestion to the FM to reduce income tax for those who earn less than Rs20 lakh in a year so that there is more disposable in the hands of consumers and the economy benefits— Sandip Somany, President, FICCI
He said some suggestions around mergers and acquisitions (M&As), demerger, NCLT process, about certain sections of income tax which were coming in the way of M&A or slowing them down were made.
“The idea is to create more freedom for the industry, for them to perform. I think the Finance Minister received them very well with her associates and secretaries. What we look forward to this Budget is that they unleash the energy of the Indian entrepreneurs to do more,” Mittal said.
Expressing similar views, Assocham president Balkrishna Goenka said for “ease of doing business, states have to play an important role” and last mile issues are there, which need to be resolved.
CII president Vikram Kirloskar said, “We talked about ease of doing business, which are the issues concerning many industries.” — PTI
