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Construction : BudgetExpectation | July 2014 | Source : Construction Update

Budget Expectations: Ajay Shankar, Country Manager, Caterpillar India

In order to promote growth, and the overall well-being of a country, Government should maintain appropriate levels of productive investment in infrastructure while providing a level playing field for private investors and suppliers. Due to structural issues in the infrastructure sector, the earth moving and construction industry is being adversely affected. Some of our budget recommendations to the new government are -
  • On indirect taxation, reduce excise duty from 10 percent to 8 percent and bring it at par with the automobile industry
  • Combine central excise duty and service tax to facilitate introduction of goods and service tax (GST)
  • To revive business confidence, government should ease the process of land acquisition for big ticket projects, and create special courts for speedy disposal of land acquisition cases
  • In the mining sector, in order to boost competition and focus on efficiency, productivity and value, reinstate the L1/L2 tendering process for government business
 
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