Industrialists Air Concerns On Budget 2020 To Finance Minister
Finance Minister Nirmala Sitharaman presents the Union Budget 2020-21 in the Lok Sabha, in New Delhi. (Source: PTI) 

Industrialists Air Concerns On Budget 2020 To Finance Minister

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A delegation of Kolkata-based industrialists on Sunday met Union Finance Minister Nirmala Sitharaman and raised some concerns over the budgetary announcements while applauding the Centre for taking "bold measures" to boost the country's economy.

Also read: Finance Ministry Working On Financial Resolution And Deposit Insurance Bill, Says Sitharaman

The finance minister is in Kolkata to discuss the government's vision on the budget with the stakeholders of various sectors. "Our discussion was centered on bold measures taken by the government such as big infrastructure plan, disinvestment of LIC, push for the agriculture sector," Indian Chamber of Commerce director general Rajeev Singh said after the meeting.

ICC delegation also expressed concerns over the implication of tax collected at source on Indian exports and other issues like employee stock ownership plan, he said. The delegation also made few suggestions on dividend distribution tax, NPA rules, multiple approvals for the retail sector, export standard operating procedure, especially for labour-intensive industry, and real estate sector issues, he added.

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