Corporate industries urge Finance Minister to lower tax rates

New Delhi Dec 6: The pre Budget discussions have started and the Finance Ministers had met various experts today and the Budget is likely to be presented on Feb 1.

Sources said that the corporate industries have urged the finance minister to reduce the corporate tax rates for large companies to lower rates. Earlier Arun Jaitley has urged in 2015 budget has announced that the corporate tax rates would be brought down to 25 % from 30 % in a phased manner by 2019.

The government has earlier cut the tax rates of small and medium companies and the new companies which were set up from 2017.Industry experts have also discussed other issues and suggested some changes which would improve the ease of doing business.

Earlier the finance minister has hinted that more funds would be spent on Agriculture and irrigation sector. The consultations are part of the government to hear the voice of all stakeholders and prepare a holistic budget.