The Confederation of Indian Industry (CII) has urged the Union government to reduce income tax rates in order to enhance the common man’s wallet power and subsequently spur economic activities in the country.
CII President Sanjiv Bajaj on Wednesday asked the government to consider reducing the income tax burden on the working class to increase sending and boost buoyancy in the economy.
Speaking at a media meeting here in connection with CII’s “Beyond India @75: Growth Competitiveness, sustainability and internationalisation,’‘ Mr. Bajaj, who is also Chief Managing Director of Bajaj Finserv, aid the country’s underlying growth drivers were strong and the economy would grow in the range of 7.4% to 8.2% cent in the next fiscal.
