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Two days later, on Wednesday, February 1, Finance Minister Nirmala Sitharaman will present the budget for the year 2023-24 . The country's Confederation of All India Traders (CAT) i.e. businessmen have high hopes from Finance Minister Nirmala Sitharaman's budget. Tax relief is expected as the biggest hope in the general budget.
The industry has placed several demands on Finance Minister Nirmala Sitharaman. He is hopeful that Finance Minister Nirmala Sitharaman can announce a big help in the budget along with the common people of the country as well as the industry. In such a situation, the Confederation of All India Traders (CAT) has sent an 18-point budget demand letter to Finance Minister Nirmala Sitharaman. It will be a matter to be seen whether Finance Minister Nirmala Sitharaman will be able to fulfill these demands.
These are the 18 point demands of the Confederation of All India Traders
1. A complete fresh review of the GST tax system
2. Announcement of reduction in tax rates of income tax
3. A thorough review of all laws and regulations applicable to the retail business
4. One Nation-One License Policy on the lines of One Nation-One Tax
5. Effective Pension Scheme for Traders
6. Insurance scheme for traders on the lines of Uttar Pradesh state
7. Different credit rating criteria for small businesses
8. Easy credit to merchants by banks and other financial institutions
9. To enable traders to get loans through non-banking finance companies and micro finance institutions
10.Establishment of fast track court for disputes like mutual payment among traders and check bounce under section 138 of the Income Tax Act
11. Announcement of construction of Special Trade Zone near villages on the lines of Special Economic Zone
12. Organization of trade fairs and exhibitions of Indian products in the country and around the world to promote both internal and external trade
13. Announcement of various incentives to encourage and adopt digital payments among the business community
14. Prompt enforcement of e-commerce regulations under consumer law
15. Immediate announcement of e-commerce policy
16. Announcement of formation of a regulatory authority for e-commerce
17. Announcement of a National Trade Policy for Retail Trade
18. Announcement of a separate ministry for internal trade, both at the center and in the states
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