Finance Minister Pranab Mukherjee is not in a mood to cut taxes but may continue with stimulus in the budget for 2011-12, feel industry representatives who met him for Pre-Budget interactions. “Finance Minister is not in a mood to cut taxes because it will affect fiscal deficit targets…It appears that FM has at least agreed to continue with stimulus packages,” Videocon Chairman Venugopal Dhoot told reporters after a three hour long meeting.
Echoing similar views, Ficci President Rajan Bharti Mittal said, “we have asked to maintain excise duty at the current level… Let the interest rate not harden up because industry is in investment mode so that those investments does not become unviable.”
He also suggested for corporate tax reduction from the existing level of 30 per cent to 25 per cent.
