CII offers pro-investment fiscal measures for Union Budget

CII has pitched for reintroduction of Section 10 (23G) of the Income Tax Act, which provided tax exemption of interest and Long Term Capital Gains in the hands of infrastructure capital companies

February 16, 2011 / 12:04 IST

Even as the economy has recovered well from the impact of the global financial crisis, there is a need to accelerate the investment momentum. Recent data shows that the rate of investment has declined from 38.1 per cent in 2007-08 to 36.5 per cent in 2009-10. Confederation of Indian Industry (CII) therefore expects the Union Budget 2011-12 to help reverse the trend by introducing certain innovative fiscal measures.

first published: Feb 15, 2011 03:07 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347