PHDCCI suggested to bolster manufacturing sector, support consumption demand and provide relief to middle income group with rationalization of tax slabs.
The industry body suggests 10 reforms to strengthen India’s journey towards Viksit Bharat.
Further reforms to enhance the manufacturing share in GDP to 25% by 2030.
Expand the PLI scheme beyond the 14 sectors with addition of more labour intensive sectors.
Change in Classification Norms of MSMEs for NPAs from the 90 days limit to 180 days.
Rationalization of direct taxes for the middle class.
Focus more on tier 2 and 3 cities with state of the art infrastructure and smart villages with adequate facilitation of public utilities.
Status quo on the corporate tax rates.
Strengthen University-Industry Linkages to enhance R&D activity in the country.
Reduce costs of doing business including costs of capital, costs of power, costs of logistics, costs of land and costs of compliances.
Implement the four labour codes across the states to enhance the competitiveness of the industry.
Strengthen supply chains and address the shortages in key food items to mitigate inflationary pressures.