Budget 2017: This is what India's Biz honchos expect from FM Arun Jaitley

New Delhi: Finance Ministry Arun Jaitley will present his third budget under the Narendra Modi government on February 1, 2017 and the expectations are already high.

While the Ministry of Finance has already asked the public for their inputs on what the government should focus on in the Budget 2017.

From means to generate employment to low cost housing, the government has already sought suggestions from Twitterati.

But what is it that India Inc wants from the government in the Budget 2017?

Let's take a good at what the industry wants from Finance Minister Arun Jaitley when he presents the budget on February 1.

Stainless Steel Industry:

Stainless steel industry body Indian Stainless Steel Development Association (ISSDA) has demanded a hike in import duty on stainless steel flat products and abolition of import duty on key raw materials, including ferro nickel.

The government must also abolish import duty on key raw materials like ferro nickel, pure nickel, ferro moly and stainless steel scrap to safeguard the interest of the sector, since these are not available in the country, the industry body said.

Madhavan Menon – MD and Chairman, Thomas Cook India

The chairman of Thomas Cook India, Madhavan Menon wants the government of strengthen 'Incredible India' through rail-roadways, key infrastructure, etc.

"Strengthening 'Incredible India' brand through the creation of tourist circuits, key infrastructure and rail-roadways, is mission critical," Menon said.

"The tourism industry is one of the largest and most dynamic sectors globally, accounting for more than a third of the total services trade.... Keeping this in mind, we are hopeful that the upcoming Union Budget will provide a vital and much needed boost to the sector," Menon added.

Anil Khandelwal – CFO, Cox & Kings

"Travel and tourism is one of the highest foreign exchange earners for the country. The industry is expecting that there will be exemption of service tax on foreign exchange earned by tour operators for inbound tours," Cox & Kings Ltd CFO Anil Khandelwal said.

He further said paying of double tax on outbound tours must be also ended adding that “service tax/GST should be levied only on the Indian component of the tour.”

Punit Goenka, President, Indian Broadcasting Foundation

Punit Goenka, President of IBF said he was happy to learn that IBF had good discussions with the Finance Minister and other key officials on some of the key issues related to Broadcasting Sector – both from policy and tax perspective.

“Grant of Infrastructure Status for broadcasting and content distribution sector was one of our key demands during the discussions. Once infrastructure status is granted, broadcasters and distribution platforms will be aided with better and affordable financing options in the very capital intensive growth phase to realise the mission of complete digitization in Country,” he said.