Furthering its emphasis on capital expenditure, the CII has asked the government to up budget towards capex by 20 per cent to Rs 12 lakh crore. To better target subsidies, India Inc has asked for food and fertiliser subsidy to be revised based on updated datasets. Promotion of low-cost and affordable housing has been sought by extending the interest subvention scheme to cover total housing cost of up to Rs 35 lakh, up from Rs 25 lakh presently. The government could look into reducing logistics’ costs in the country further by ensuring timely implementation of the National Logistics Policy, the CII has suggested. Promotion of the MSME sectors in the country could be done by the creation of a seperate vertical for micro enterprises in the MSME Ministry.

Source: Economic Times January 25, 2024 14:02 UTC