Industry chamber Ficci on Wednesday suggested the government grant a 3-4% interest subsidy on home loans and extend the preferential tax rate of 15% to companies investing in technology green, in the next budget.
The housing and construction sectors have backward and forward linkages and impact almost 200 sectors and should be given comprehensive support in the next EU budget, he said.
“An interest subsidy of 3 to 4% on housing loans could also be offered for a period of 3 to 4 years.
“Extend a preferential tax rate of 15% to companies that invest in green technologies on or after a specific date and also allow a full deduction for the investment/purchase of green technology assets,” he said. he adds.
He also recommended that the government subsidize the use of 6-7 bottles per year for poor households; increasing unsecured lending under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) from the existing Rs 2 crore to a maximum of Rs 5 crore. He also suggested extending the expiration date for newly incorporated domestic enterprises to start manufacturing until March 31, 2025.
“Due to the outbreak of the COVID-19 pandemic, setting up manufacturing facilities/production plans, regulatory approvals, resource planning, etc. (which usually takes a long time ) before the expiration date of March 31, 2023, has become difficult,” he said.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)