In a pre-budget meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Chambers of Commerce and Industry (FICCI) outlined a comprehensive set of recommendations aimed at improving ease of compliance,
The article from MSN discusses the Federation of Indian Chambers of Commerce and Industry (FICCI)'s proposals for the upcoming Union Budget 2025, focusing heavily on tax reforms. FICCI has suggested a comprehensive overhaul of the tax system to simplify compliance and boost economic growth. Key proposals include reducing corporate tax rates, rationalizing Goods and Services Tax (GST) slabs, and introducing a new tax regime for startups and small businesses to encourage entrepreneurship. Additionally, FICCI advocates for the expansion of tax incentives for research and development, simplification of capital gains tax, and measures to curb tax evasion. The aim is to create a more investor-friendly environment, enhance ease of doing business, and promote sustainable economic development. The article also touches on the need for addressing inverted duty structures and providing clarity on tax litigation to reduce disputes.
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