What Recommendations Did PHDCCI Present to the Government for the Upcoming Budget?
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Synopsis
In a significant meeting, PHDCCI officials discussed crucial recommendations for direct and indirect tax policies with Revenue Secretary Arvind Srivastava. With a focus on enhancing ease of doing business and supporting MSMEs, the discussions aim to shape the upcoming Union Budget, ensuring that tax benefits reach the most impacted sectors.
Key Takeaways
- PHDCCI met with Revenue Secretary to discuss tax policies.
- Focus on enhancing the ease of doing business.
- Recommendations include tax benefits for MSMEs.
- Discussion on a more progressive personal income tax structure.
- Positive government response to industry concerns.
New Delhi, Oct 29 (NationPress) Senior officials from the PHD Chamber of Commerce and Industry (PHDCCI) convened with Revenue Secretary Arvind Srivastava on Wednesday to convey the industry’s recommendations regarding direct and indirect tax policies.
In the ongoing pre-budget consultations, the government is conducting a series of discussions with industry stakeholders to collect insights for the forthcoming Union Budget. These talks are primarily focused on improving the ease of doing business and providing tax incentives to the most vulnerable sectors.
After the meeting, PHDCCI’s CEO and Secretary General, Dr Ranjit Mehta, remarked that the dialogues emphasized both taxation and business facilitation.
“We also addressed the ease of doing business, which is a key priority for the government,” he added, mentioning that the Chamber had put forth specific recommendations to mitigate liquidity issues faced by micro, small, and medium enterprises (MSMEs).
Srivastava characterized the government’s stance as “very positive” and supportive of the industry.
PHDCCI’s former President, Saket Dalmia, noted that the execution of new regulations has faced hurdles at the last mile. “The government is aware of these challenges and has responded favorably,” he stated.
Chairman of PHDCCI’s Indirect Tax Committee, Ashok Batra, called the meeting “very constructive,” highlighting that officials paid close attention to the industry’s concerns, especially regarding input tax credit.
Additionally, PHDCCI’s Tax Committee Chairman, Mukul Bagla, emphasized the need for a more progressive personal income tax framework.
“Even with the reduction in personal income tax rates during the last budget, tax revenue has increased by 6.5 percent this year,” he pointed out.
“We have recommended further extending tax cuts — proposing a 20 percent tax rate on incomes up to Rs 30 lakh, 30 percent on incomes up to Rs 50 lakh, and 50 percent thereafter — to allow the salaried sector to reap the benefits of economic growth,” he added.
The government is anticipated to continue its engagement with various industry associations in the upcoming weeks before finalizing proposals for the Union Budget.
Point of View
It is essential to acknowledge the proactive stance of the PHDCCI in advocating for businesses, especially MSMEs, during these pre-budget consultations. Their recommendations reflect a commitment to fostering a conducive economic environment, which is vital for sustainable growth and recovery.
NationPress
29/10/2025
Frequently Asked Questions
What is PHDCCI?
PHDCCI stands for the PHD Chamber of Commerce and Industry, which represents various sectors and advocates for industry interests in India.
What were the main topics discussed in the meeting?
The main topics included recommendations on direct and indirect tax policies aimed at improving the ease of doing business and supporting MSMEs.
Who attended the meeting?
Senior officials from PHDCCI and Revenue Secretary Arvind Srivastava attended the meeting.
What is the significance of the pre-budget consultations?
The pre-budget consultations are crucial for gathering industry insights that will influence the government's proposals for the upcoming Union Budget.
How does the PHDCCI aim to support MSMEs?
PHDCCI aims to support MSMEs by proposing specific tax benefits and addressing liquidity challenges they face.
