Welcome Guest

Businessex.Com
Home News Govt to cut tax burden for SME growth

Govt to cut tax burden for SME growth

Tags: sme, taxes, bjp, mp, industry, mahesh giri, phd chamber of commerce and industry, government

June 16, 2014 | COMMENTS ( 0 )

Govt to cut tax burden for SME growth

In an effort to reduce the taxation burden on small and mid size businesses in India and push their growth further, the government in its latest move has come out promising minimum taxation on the SME sector.

 

At a recent event organized by PHD Chamber of Commerce and Industry on the ‘Road Map for the new Government’, the newly elected Members of Parliament (MPs) promised industry that their collective efforts will lead to elimination of host of unpleasant taxes and raise voices to empower industry in nation building.

 

Mahesh Giri, MP stated that newly elected MPs will raise issues and lobby for elimination of uncalled taxation that has been in existence in the statute for decades.

 

“A business does not earn anything after 34 different taxes levied on him currently. The tax an entrepreneur evades is his earning. If he will not evade those taxes then he will not be able to earn anything. Our priority is to to undo these taxes and strengthen Indian businesses,” said Giri.

 

“PM Modi has asked Nitin Gadkari to examine the tax structure that cause hardship to industry so that it is not subjected to multiple-taxation both direct and indirect taxes. The new government would ensure that these 34 taxes which apply to industry in general under the prevailing regime are pruned substantially,” Giri added.

 

The other that MPs participated at the event were Dr. Udit Raj, Mahesh Sharma and Bharatendra Singh.

 

Raj, on the other hand committed to remove red tape from Delhi’s industries department to facilitate and ensure faster taking off of pending projects for MSMEs in the NCR region.

 

“A lot of work has to be done to remove corruption and red tape in the industrial corridors. Then only we will be able to push through the pending government especially in Delhi NCR for MSMEs,” he said.

 

“The attitude of the government required changed. We always had the spirit and courage to grow only of the government had earlier allowed us to do it. Now we have a pro-business PM who wishes to make a difference,” said Singh.

 

“Industry would find friends in Modi whose regime would lay out a road map for industry to negotiate on it smoothly and profitably,” added Singh.

 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....