Budget 2025 : Industry Body CII has given a unique suggestion of the government in the pre -budget meeting. The industry body has said that to increase the demand in the economy, the government should distribute consumer vouchers in the budget, while giving details of this pre budget meeting, Alok Priyadarshi of CNBC-Awaaz said that the budget suggestion of the industry has been recommended to distribute consumer vouchers to increase the demand. There has been a demand to give vouchers for shopping for special things. There should be a provision to redeem these vouchers in 6 to 8 months. The CII has also demanded the minimum wage to be 375 in MNREGA. Along with this, it has also been demanded that instead of 6000 rupees in PM farmer honor, 8000 rupees should be given.
Significantly, the round of meetings for the budget 2025-26 has started. The Finance Ministry has started meetings with industry organizations. In another similar meeting, the industry has demanded that the highest slab of income tax should not be more than 25 percent. According to sources, the industry body has made this demand in the pre budget meeting with the Ministry of Finance. According to sources, in the meeting of the industry body with the Revenue Department, there has also been a demand to increase the income limit for the properly tax. There has also been a demand for tax to 33 per cent instead of 50 per cent deemed profit for tax. It has also been demanded that the tax limit on divident income should be cap at 10 per cent and the faceless system should have time bound settlement.
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Expectations from industry budget
Alok further stated that the industry demands that the maximum income tax rate should be 25 percent. The income limit for prajaptive tax should be increased from Rs 75 lakh to Rs 1 crore. Deemed profit for tax should be 33 percent instead of 50 percent. Professional tax is currently applied for professionals. The tax limit on divident income should be limited to 10 per cent. Currently, dividend income is taxed according to the slab. The faceless system should have time bound disposal. In the faceless system, cases up to 2018 are pending.