Confederation of Indian Industry (CII) in its Pre budget memorandum for Union Budget 2012-13 has asked the government to announce initiatives that can accelerate the pace of private investments.
- Higher depreciation rate of 50 per cent in case of retrofitting technologies, which are more energy efficient and environment friendly in order to encourage companies to go green
- Retain the current rates of excise and service tax to spur investment by industry
- Money received from sale of an asset be exempted from capital gains tax
- CII has favored reintroduction of Section 10(23G), which allowed exemption of interest and long-term capital gains when lent for Infrastructure related initiatives.
- CII recommends weighted deduction of 200per cent on in-house R&D be extended to all sectors in order to make India an attractive base for R&D.
- They have also proposed a 16-point
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