``Simplifying TDS, thrust on CapEx to continue `` IMFA MD Subhrakant Panda shares expectations from Budget 2024
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Sharing his expectations from the upcoming Interim Budget 2024, Managing Director of Indian Metals & Ferro Alloys Ltd, Subhrakant Panda on January 29 said that TDS should be simplified to reduce disputes, expanding the scope of PLI policies and there should be more measures to support MSMEs.
Subhrakant Panda said, “First and foremost, is the thrust on CapEx to continue... The other major expectation is measures to continue to support manufacturing competitiveness in the country because we have a unique opportunity due to geopolitical developments, to encash our potential... Several measures we expect to be taken, such as continuing with the PLI policies and expanding its scope. Also looking at measures like simplifying TDS to reduce disputes because there are multiple TDS rates which lead to classification disputes. So simplifying that will be helpful. One final point is more measures to support MSMEs, such as mandatory registration and treads, as well as means to provide collateral-free credit which is very important for their growth.”
Notably, the Interim Union Budget 2024 will also be delivered in paperless form. The Interim Union Budget 2024 will be presented on February 01.
