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Industry leaders to meet FM Nirmala Sitharaman, press for Rs 1 lakh crore stimulus package: Sources

Business leaders meeting the finance minister include Uday Kotak, TV Narendran, Sandip Somani, BK Goenka, Sajan Jindal, Sunil Mathur, Anil khaitan, Sanjiv Puri, Rishab Premji, Sangeeta Reddy, Dilip Sanghvi and Ajay Piramal.

Industry leaders to meet FM Nirmala Sitharaman, press for Rs 1 lakh crore stimulus package: Sources

New Delhi: Amidst concerns of slump in economic growth, industry leaders are meeting with  Finance Minister Nirmala Sitharaman on Thursday.

Business leaders meeting the finance minister include Uday Kotak, TV Narendran, Sandip Somani, BK Goenka, Sajan Jindal, Sunil Mathur, Anil khaitan, Sanjiv Puri, Rishab Premji, Sangeeta Reddy, Dilip Sanghvi and Ajay Piramal.

Sources told Zee Media that the agenda of the meeting includes boosting exports, seeking minimisation of statutory income tax for all companies in lieu of investment in a time bound period, neutralisation of tax on share buyback, reudction of GST on cement, consumer durables and auto to 18 percent among several important demands.

Industry leaders may also press for a stimulus package of over Rs 1 lakh crore to boost the economy, sources said. It is also expected that they may demand for a dedicated index of MSMEs ease of doing business.

Auto Industry leaders met Finance Minister Nirmala Sitharaman with an aim to find a concrete solution to the woes of the sector on Wednesday. Indian Automobile sector has posted the worst sales in two decades in the month of July with some top passenger car makers even plunging to their worst show in about two decades.

Earlier this week, finance Minister Sitharaman met the PSU bank heads and major private sector banks to review credit growth in various sectors like MSMEs, retail, auto, NBFCs and HFCs.