Infrastructure companies hope that the Union Budget 2018 will have provisions that will help in reviving the sector which is undergoing trouble.
Industry experts suggest ways to encourage job creation and investments: spend more on clean water, solar projects, and provide tax breaks to companies spending on skilling programme, which will help in infrastructure building and industry at large.
Experts hope that the budget will help in creating new jobs.
Also Read: Budget 2018 will be Modi govt’s biggest challenge in 4 years see why
Infrastructure players also expect the government to reduce GST (Goods and Services Tax) on cement, referred as a core sector, from 28 to 18 percent. Corporate Tax, Dividend Distribution Tax and Minimum Alternative Tax (Mat) should also be reduced to not just uplift infrastructure but manufacturing or other industries having the potential to create investible surpluses, they opine citing that except road projects, players in most verticals are facing challenges. It’s pertinent to note that after the increase in government spending on road construction, the sector has been doing well.
Arun Jaitley had promised rate cuts ion corporate tax. Since there are very few months left for next general election in 2019. Everyone expects the government to be lenient.
Industry experts hope the government will announce projects that will help in the growth of infrastructure industry.
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