India Inc seeks cut in personal income tax rates, flags dumping by China at pre-Budget meet

India Inc. has proposed a reduction in personal income tax rates ahead of the upcoming budget. The suggestion aims to boost consumer spending and stimulate economic growth, particularly in sectors hit by slow demand. The proposal comes amid rising concerns over inflation and the need for fiscal consolidation. A reduction in personal tax rates would provide relief to middle-income earners, enabling them to spend more on goods and services, thus benefiting the broader economy. The government is expected to review this proposal in light of fiscal considerations.