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CII Proposes 10-Point Plan to Boost Ease of Doing Business
In anticipation of the Union Budget 2025, the Confederation of Indian Industry (CII) has proposed a comprehensive 10-point plan aimed at improving the ease of doing business and fostering economic growth. These recommendations emphasize policy reforms, infrastructure development, and taxation simplifications to create a more conducive environment for businesses.
Key Recommendations
The CII’s suggestions focus on several key areas that could enhance India’s business ecosystem. Among them are streamlining regulatory approvals and reducing compliance burdens, which are seen as critical to improving India’s position in global business rankings.
One of the core proposals includes setting up single-window clearances for businesses, a move designed to expedite project approvals and reduce bureaucratic delays. This initiative could attract more domestic and foreign investments by making India a more business-friendly destination.
Additionally, the CII has emphasized the importance of digitizing processes to simplify tax filing and compliance. Enhanced use of digital platforms could significantly reduce operational inefficiencies for businesses.
Tax and Infrastructure Focus
The industry body has also advocated for rationalizing corporate taxes and aligning them with global standards to make India a more competitive investment destination. “Tax simplifications and reducing litigation timelines” are seen as pivotal for building investor confidence.
On the infrastructure front, the CII has called for increased investments in critical sectors, particularly logistics, transportation, and digital infrastructure. These improvements are expected to lower operational costs for businesses while creating jobs and spurring economic activity.
Encouraging Start-Ups and MSMEs
Acknowledging the importance of start-ups and micro, small, and medium enterprises (MSMEs) in driving India’s economic growth, the CII has urged the government to offer targeted incentives. These include easier access to credit, tax benefits, and support for research and development.
The recommendations also stress the need to further liberalize trade policies and strengthen intellectual property laws to encourage innovation and entrepreneurship.
Paving the Way for Economic Growth
The CII believes these measures, if incorporated into the Union Budget 2025, could help create a more transparent and predictable business environment. With these reforms, India could bolster its position as a global economic powerhouse while addressing domestic growth challenges.
This proposal by the CII aims to align policy frameworks with the evolving needs of businesses, ensuring long-term economic stability and competitiveness for India.
