Industry bodies say budget should focus on steps to improve job growth . Budget should be rationalized GST (Goods and Service Tax) and personal income tax slabs to raise income .
In their pre-Budget meeting with Finance Minister Nirmala Sitharaman today, industry bodies said that the budget should focus on steps to improve job growth and broaden the tax base by rationalizing GST (Goods and Service Tax) and personal income tax slabs to raise income.To boost domestic demand, development, and productivity, the Confederation of Indian Industry (CII) called for a broad-based domestic economy by putting emphasis on privatization of public sector units, assimilation, and a pilot program in metro areas in this Budget.To promote job growth, CII recommended that the government consider a one-year investment initiative, and that tax reform be reformed to combat global instability.To maintain the stable economic growth trajectory, it would require planned steps to improve domestic sources of income, according to Saket Dalmia, president of PHDCCI, in a release.