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PHDCCI URGES PLI EXPANSION, MSME SUPPORT, AND TAX REFORMS IN THE UNION BUDGET

December 25, 2024

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The Business Guardian

Ahead of the 2025-26 Union Budget, PHD Chamber of Commerce and Industry has proposed tax cuts, PLI scheme expansion, and MSME classification changes

- TBG NETWORK

PHDCCI URGES PLI EXPANSION, MSME SUPPORT, AND TAX REFORMS IN THE UNION BUDGET

With the union budget 2025-26 slated for February 1, 2025, suggestions from various sectors and industry bodies are coming to the finance ministry.

Industry body PHD Chamber of Commerce and Industry wants a slew of reform measures in the budget, which includes tax reforms for individuals and Limited Liability Partnership (LLP) firms, expansion of the Production Linked Incentive (PLI) scheme, and revisions to MSME classification norms among others.

The industry body wants a cut in tax rates for individuals and Limited Liability Partnership firms and fast-tracking of faceless appeals by introducing a statutory period.

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