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MSMEs Want Finance Ministry to Make Progressive Corporate Tax Structure

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The Union Minister of Finance Nirmala Sitharaman held her third Pre- Budget Consultation Meeting with the stakeholders from the financial sector and capital markets in New Delhi.

The main areas of discussion during the Meeting included issues relating to the Capital Markets, Financial Sector, Non-Banking Financial Companies (NBFCs) and Alternative Investment Funds (AIFs) among others.

In the meeting, the stakeholders raised, among other issues, the issue of making Corporate Tax progressive to incentivise micro, micro, small and medium enterprise (MSME) sector.

With a view to give boost to Indian markets, the representatives submitted several other suggestions concerning infusion of capital in niche/regional banks, enhanced role of Financial Sector Development Council, on the NBFC Sector, etc.

The also pointed the need to distinguish between solvency, governance & liquidity issues was mentioned along with creation of dedicated liquidity window for NBFC sector, review of interest rates on Govt.’s Small Savings Schemes, review of banking NPAs provisions through setting-up a Committee, etc.

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