At no point do we want to make it difficult for industry: FM
At no point and on no score, do we want to make it difficult for industry ...
She also informed the CII members present that she will be travelling around the country, including to Tier 2 cities, to first-hand hear and understand the tax harassment issues faced by corporates. In addition, a technology-driven platform will be set up wherein cases of harassment can be uploaded, either with or without disclosing identity. Sitharaman stated her intent to address the issues relating to harassment and ensure powers are not misused.
The Minister mentioned the possibility of reviewing some of the milestones in relation to infrastructure. In particular, projects with a bearing on the core sectors and job creation may be brought forward. For instance, incentivising affordable housing is likely given its impact on the core sectors. “We have an atmosphere of certainty and cordiality between the RBI and the government”, said Ms Sitharaman, adding that the current high level of synergy between the two is helping to incentivise investments.
Recognising that corporates have significant outstandings from government departments and agencies, she stated that she is in the process of addressing this. Delayed payments to MSMEs is estimated at around Rs 48,000 crore. As the first step, out of the Rs 48,000 crore, the Government will be releasing amounts which are not under litigation.