Business Daily from THE HINDU group of publications
Monday, May 04, 2009
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Business Daily from THE HINDU group of publications Monday, May 04, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Industry Associations Corporate - Taxation FICCI stresses need for continuation of tax breaks Phasing out fiscal benefits will impact the Government estimates of $300 billion investment in infrastructure over the next five years. Our Bureau New Delhi, May 3 The Federation of Indian Chambers of Commerce and Industry has said any attempts by the new Government to withdraw tax breaks will be counter productive in attracting investments through public private partnerships mode. “What is causing concern is that over the last two years the Government has been engaged in reviewing and phasing out tax exemptions and incentives largely owing to its feeling that these are costing the exchequer substantially,” said FICCI in a statement. The Chamber has expressed that phasing out fiscal benefits will impact the Government estimates of $300 billion investment in infrastructure over the next five years through the public-private partnership mode. The Chamber has suggested that to cope with the situation of limited finance, sectors such as real estate and infrastructure may be allowed to issue tax free bonds for a limited period. FICCI has emphasised such incentives on sectors with significant forward and backward linkages. More Stories on : Industry Associations | Taxation
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