The upcoming Budget should look at incentivising investments into the country, and measures such as a cut in corporate tax rate could bolster sentiments for investing in the Indian economy, a top industry chamber said on Friday.
Incentives are a must, apart from steps to encourage foreign direct investments in the country, according to Assocham.
“There is a need for investments in the industry, therefore, certain measures like a 5 per cent cut on the corporate tax can be helpful,” said Balkrishan Goenka, President, Assocham.
The chamber said that the liquidity crisis has impacted lot of sectors.
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The members of Assocham have therefore suggested that there is a urgent need to focus on the liquidity crisis.
“Post the dismantling of Foreign Investment Promotion Board, there is no nodal agency now, and overseas companies who come to India for FDI have to go through various departments. So, we have suggested that a desk be set up for major FDI-contributing countries,” added Goenka.
Source: The Hindu BusinessLine
