NEW DELHI: India Inc wants Finance Minister Arun Jaitley to slash corporate income tax rate, incentivise digital transactions, introduce radical steps to reduce litigation and strengthen dispute resolution mechanism in the forthcoming Budget to be unveiled on February 1.The industry also wants the government to focus on infrastructure , unveil measures to widen the tax base and lower personal income tax rates to boost consumption. "Since last year, the government has started reducing the corporate tax rate with a view to bringing it down to 25 per cent by 2020. However, the progress has been a little slow, and only a few companies have been covered under the new tax regime so far. "The lending rates should also be brought down and easy financing should be made available for sectors such as housing. "Government has no doubt taken commendable initiatives and made fair provisions to minimise and reduce unnecessary litigation.

Source: Economic Times January 29, 2017 07:01 UTC