CII pitches for further reform in taxation system, sustaining capex in FY25 Budget
simplification of taxes, as well as sustaining the capital investment momentum in the Budget for 2025-26. In a meeting with Revenue Secretary Sanjay Malhotra, CII urged the government to increase the capex by 25 per cent over 2024-25 (BE) with a sharp focus on infrastructure related to rural areas, agriculture, and the social sector.
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The Budget for the 2025-26 fiscal year is set to be presented on February 1, 2025.
CII President Sanjiv Puri said given the intrinsic strength of the economy and with growth aspirations of the people, this is an opportune time for India to design a blueprint and a template outlining the next phase of reforms.
«India has emerged as the beacon of stability and growth in a fraught world, in the last decade. We are looking at the Union Budget to further consolidate this position and create a competitive India, that is prosperous, inclusive, equitable, environment friendly and technologically advanced,» Puri said.
CII Director General Chandrajit Banerjee said the Budget comes at a time when the world is going through some period of geopolitical and economic uncertainty.
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