Commerce Ministry starts exercise to firm up Budget proposals

Posted By: Religare
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Commerce Ministry starts exercise to firm up Budget proposals
The Commerce and Industry Ministry has started the exercise to firm up proposals for Budget 2014-15, reported PTI.

"Budgetary consultations have started. Commerce Ministry participated. On the advice of PMO held a consultative meeting with Dr C Rangarajan to boost the economy," Commerce and Industry Minister Nirmala Sitharaman said.

Finance Minister Arun Jaitley is expected to present the Budget 2014-15 in July, said the media report.

According to sources, the ministry is expected to ask its finance counterpart to resolve the issues concerning inverted duty structure and take steps to revive special economic zones (SEZs).

Imposition of minimum alternate tax (MAT) and dividend distribution tax (DDT) on SEZs have impacted investments and exports in these zones.

The industry has time and again raised its concerns on the matter and have asked the finance ministry to roll back MAT and DDT, added the media report.

The Commerce Ministry may also ask the Finance Ministry to announce steps to boost manufacturing sector growth.

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Read more about: commerce, industry, ministry, budget, rangarajan
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