Budget 2024 | CII calls for income tax relief for those in lowest slab

CII President Sanjiv Puri has suggested income tax relief for the lowest slab in the upcoming 2024-25 Budget to address high inflation. In a PTI interview, he emphasized creating a consensus-building platform between the Centre and states for comprehensive reforms in land, labor, power, and agriculture.

Puri noted that the success of past policies would drive reforms in PM Modi's third term. He highlighted the need for public capex, fiscal adherence, social infrastructure investment, a green fund, and rural investment. CII expects inflation to be around 4.5% due to a good monsoon. Puri also called for tax simplification, rationalizing capital gains, addressing TDS issues, and moving to a three-tier customs structure.