Union Budget 2021: What India Inc expects from Nirmala Sitharaman
Following its tradition of suggesting and sending key points to the finance minister ahead of the budget presentation, the Federation of Karnataka Chambers of Commerce and Industry has pitched few reforms that it feels are necessary as India emerges from the Covid-19 pandemic.
Talking to Asianet Newsable, Federation of Karnataka Chambers of Commerce and Industry President Perikal Sundar said that industries are already facing tough times and on top of it income tax inspectors are tormenting them day in and day out.
This is the reason they have sent a heavily-worded letter mentioning 'Inspector Raj' and asking Finance Minister Nirmala Sitharaman to put breaks on them until the market stabilises.
Another area of concern is about meeting the challenge of payment as the employer has to meet the minimum wage standard and many of them are not able to meet this. Hence, the FKCCI has suggested making the labour rule flexible and reducing the minimum wages.
Even as the 'Aatmanirbhar' package gives relief to banks, the FKCCI wants the State Finance Corporations to be covered as they help MEMEs revive to great extent.
This apart, the FKCCI has suggested making a policy to cancel the charges on online payment platforms like NEFT, UPI and vouching for more Public-Private Partnership projects.