Budget expectations 2023: Widen tax net, say Pune industrialists

Since the state government has not yet finalised land for Pune international airport, industrialists and civil aviation analysts have very little hope for anything when finance minister Nirmala Sitharaman delivers the Union Budget 2023 on February 1.

While industrialists expect a reduction in Goods and Services Tax (GST) and a widening of the tax net in the upcoming Union budget

Sudhir Mehta, immediate past president of the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), said, “I don’t see anything coming specifically for the airport as the land is yet to be finalised.”

“I hope the budget widens the tax net, by taxing agriculture income above a certain threshold. There is also a need for green financing mechanisms for the introduction of electric buses and public transport in the country,” added Mehta.

“I am looking forward to a reduction in GST slabs as well. Also, there should be some scheme where government receivables can be securitised so that private companies don’t become non-performing assets because of overdue government receivables,” added Mehta.

Dhairyashil Vandekar, civil aviation analyst, said, “Our actual demand is Purandar airport and we expect some action soon. It is high time that the project moves from paper to groundwork – but it is a state subject so we cannot expect anything from the Union budget.”

“There are few national-level issues like few subsidies should be raised for fuel. Some boosters are expected for maintenance, repair and operation (MRO) sectors. We hope the land purchased for cargo is fully utilised for the cargo terminal. No commercial project should come on that land,” added Vandekar.

Sandeep Belsare, president of the Pimpri-Chinchwad small-scale industries association, said, “The rates of iron and steel are increasing again. Government should form a committee to control rising steel prices. In the last one month, price of one kilogram of steel has gone up by ₹8.”