India Inc Advocates for Middle-Class Tax Relief and Fuel Duty Reduction

India's leading industry bodies are urging the Finance Ministry to implement personal tax benefits for the middle class and reduce excise duties on fuel in the forthcoming Union Budget. The Confederation of Indian Industry (CII) recommends marginal tax relief for incomes up to ₹20 lakh, while the PHD Chamber of Commerce and Industry (PHDCCI) suggests applying the 30% tax slab only to incomes above ₹40 lakh. These measures aim to boost disposable income, stimulate consumer spending, and invigorate economic growth.

Additionally, there is a call to reduce excise duties on petrol and diesel to alleviate the financial burden on consumers and further enhance spending capacity.

Source: The Economic Times
The Daily Guardian