Stakeholders want tax-free bonds
Issues relating to bring in more capital to the infrastructure sector such as highways, railways, telecom, auto-mobile and incentives for electric vehicles were highlighted during Finance Minister Nirmala Sitharaman Pre-Budget Consultation Meeting with stakeholders from Infrastructure and Climate Change Sectors.
The Green Sector including renewable energy among others were also brought up during the 13 June 2019 meeting in Delhi.
With an eye on creating sustainable and stable opportunities, suggestions from the representatives of Infrastructure Sector and experts of climate change included containing the rising cost of infrastructure projects, rationalisation of various levies in infrastructure sector, introduction of tax-free bonds to boost investment and streamlining of land acquisition process.
Suggestions were also made for creation of Green Technology Acceleration Fund, incentivising domestic manufacturing of solar energy equipment, fiscal incentives for development of Electric Vehicles industry, user development fee for upgradation of railway stations, inclusion of telecom towers in plant and machinery category for GST purposes.
The stakeholders also want promotion of non-fossil fuel based energy, redevelopment of wasteland and greater emphasis on recycling/up-cycling of waste material, imparting Infrastructure Status to Renewable Energy sector, provisions related to scraping of old vehicles and incentivising higher investment in R&D in automobile sector among others, said the Finance Ministry. fiinews.com
