Home Budget 2020: Industry hails Nirmala Sithraman's fiscal roadmap; lauds schemes on job generation

Budget 2020: Industry hails Nirmala Sithraman's fiscal roadmap; lauds schemes on job generation

Press Release: June 04, 2020

  • India Inc termed the Budget as "growth provoking and welfare inducing"

  • The finance minister proposed new slabs and reduced tax rates under them for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions

  • The minister proposed raising customs duty on a variety of products ranging from tableware and kitchenware, electrical appliances to footwear, furniture, stationery and toys to give a level playing field to domestic companies and boost 'Make in India'

India Inc termed the Budget as "growth provoking and welfare inducing" but said that urgent implementation of the measures proposed will be crucial for achieving desired outcomes, while acknowledging that Finance Minister Nirmala Sitharaman had "little room" to manoeuvre.

Notes to editors

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