'Withdrawal all taxes levied during boom'

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Taxes
New Delhi, Nov 20: An industry think tank on Thursday, Nov 20 demanded withdrawal of taxes levied on India Inc during boom time to offset losses caused by economic downturn now in the wake of global financial crisis.

The 40-member think tank also sought imposition of heavy anti-dumping duties on imports from China, Thailand, Malaysia and CIS countries. Briefing the media after its meeting, Assocham President Sajjan Jindal said during the economic upturn, Finance Ministry had levied a slew of direct and indirect taxes which, he added, should now be removed to enable industry overcome hardships caused by economic slump. The government should not only restructure entire tax system but also create confidence by creating demand through policy measures.

An infrastructure fund with a seed capital of 10 billion dollars be set to expand it as this will help create the demand, Mr Jindal suggested.

Realty major DLF Chairman K P Singh sought special package of low interest rates to create demand for affordable houses.

Sail Chairman S K Roongta, however, urged India Inc to collectively raise issues instead of making sectoral demands so that government could give it suitable consideration.


UNI

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