CII suggests 10-point agenda on ease of business reforms ahead of Budget
The HinduAhead of the upcoming Budget, industry body Confederation of Indian Industry on Sunday suggested a 10-point agenda to drive ease of doing business reforms, aimed at reducing compliance burden, simplifying regulatory frameworks, and improving transparency. CII Director General Chandrajit Banerjee said, "Simplifying regulatory frameworks, reducing compliance burdens, and enhancing transparency should continue to remain our focus agenda for next several years. Compliances for industry related to various areas such as land, labour, dispute resolution, paying taxes and environment offer a vast scope for reduction, vital for boosting competitiveness, driving economic growth and employment generation." Flagging the "high and rising pendency of tax disputes" as a major issue, CII said there is a need to minimise income tax litigation by unclogging the pendency at the level of Commissioner of Income Tax and improving the effectiveness of ADR mechanism such as Advance Pricing Agreement, Boards for Advance Rulings and Dispute Resolution Scheme, as part of the EoDB reforms.
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