US-India Strategic Partnership Forum Pushes for Stable Tax Environment Ahead of Union Budget 2024-25

The US-India Strategic Partnership Forum urges Union Finance Minister Nirmala Sitharaman to implement a stable and predictable tax environment in the upcoming Union Budget 2024-25. It stresses the need for reforms in corporate tax rates, capital gains tax, and customs policies to boost investments and economic growth.

The US-India Strategic Partnership Forum (USISPF) has called on Union Finance Minister Nirmala Sitharaman to establish a stable and predictable tax environment as she prepares the Union Budget 2024-25.

In its recommendations, the US-India Tax Forum emphasized the importance of a consistent tax policy to enhance investment confidence across sectors. The industry eagerly anticipates measures that stimulate growth, simplify tax structures, and lower business costs.

Tarun Bajaj, chairperson of the US-India Tax Forum, and former Revenue Secretary, highlighted the necessity of targeted reforms in direct taxes and customs policies to foster a conducive business environment. Meanwhile, Mukesh Aghi, president and CEO of USISPF, said multinational corporations expect the budget to prioritize stable tax policies, infrastructure investments, and sustainable development initiatives.