NEW DELHI: The Confederation of Indian Industry (CII) in its budget suggestions for 2025-26 has recommended lowering the excise duty on fuel to boost consumption, especially at the lower income level, arguing that fuel prices significantly drive inflation.
The budget could also consider reducing marginal tax rates for personal income up to Rs 20 lakh per annum. This would help trigger the virtuous cycle of consumption, higher growth and higher tax revenue, said CII.
Asserting that the gap between the highest marginal rate for individuals at 42.74 per cent and the normal Corporate Tax Rate at 25.17 per cent, is high, it said, inflation has reduced the buying power of lower and middle-income earners.
Bu hikaye Millennium Post Kolkata dergisinin Kolkata 30 December 2024 sayısından alınmıştır.
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Bu hikaye Millennium Post Kolkata dergisinin Kolkata 30 December 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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