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"Budget should be aligned with 12th Plan"

Posted on Feb 19, 04:40PM | IBNS

Kolkata, Feb 19 : The Bengal Chamber on Tuesday said it expects that the Union Budget will be aligned with the 12th Plan, and the priority would address the multiple challenges of high fiscal, high current account deficit, low growth, and declining savings.

However, there should be some relief for the common man, said the chamber.

"The Chamber expects a reduction in STT rates and relief to corporates on MAT, especially to boost investment in infrastructure," said a release issued by chamber Director General P Roy and President Kallol Datta.

"Reducing subsidies through direct cash transfers will be a focus area. The NBS may be extended to nitrogenous fertilizers like urea."

"Steps toward implementation of DTC and GST are also to be expected as also easing FDI norms and easing the raising of foreign debt by corporates," it said.