With the stimulus rollback being the central theme of upcoming Union Budget, India Inc is lobbying hard to retain the excise and service tax as it is.
Corporate India unanimously opine that withdrawal of stimulus packages or increment in service and excise tax at the current stage, can deflect the growth process.
"We are afraid that roll-back of stimulus packages, even partially, could derail the growth process and adversely impact the industrial sector," said, Mr. Hash Pati Singhania, President, FICCI.Corporate India unanimously opine that withdrawal of stimulus packages or increment in service and excise tax at the current stage, can deflect the growth process.
The finance ministry in all probability, would be partially withdrawing the concessions and relief which was provided to the industry to combat the global economic depression.
The Union Finance Budget 2010-11 would be tabled on February 26th in Parliament.
