Industry believes that Budget 2020 is very important. This is because the CSO has said in its figures that the country's GDP growth rate could be around 5% in the current financial year. Speaking on the Budget Expectation 2020, Ph.D. Chamber President DK Aggarwal said that there is a need to cut individual income tax to increase domestic demand. He has asked to ensure adequate availability of liquidity to overcome the sluggishness of the economy. Aggarwal said that Prime Minister Narendra Modi's dream is that India's economy should be worth $ 5 trillion by 2024-25. Rapid growth is very important to achieve this goal. Increasing consumption in this direction and increasing demand especially at the rural level is the most important.

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Agarwal suggested that capital expenditure may have to be increased in rural areas to increase domestic demand. Allocation needs to be increased under MNREGA. Advance installment should be given under Kisan Samman, Aggarwal said that advance installment should be given under Kisan Samman Nidhi, this will help to increase demand. He said that personal income tax should be cut despite the reduction in tax collection. Those earning up to 5 lakhs should be exempted from tax exemption and the tax rate should be 10% on earning up to 10 lakh rupees. He said that in an attempt to increase demand, if the fiscal deficit exceeds the target by 40-50 basis points, then there is no need to worry as this priority is to accelerate the growth rate. The growth engine of the MSME sector inclusive growth

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The MSME sector of the country is the growth engine of inclusive growth. Such companies have not got the full benefit of corporate tax cuts, steps will have to be taken to give a boost and level playing field to this sector. Economy will be better this year - Agarwal hoped that this year the economy of the country can improve. He said that some indicators came out in December. He said, "I have started seeing some positive things." Manufacturing PMI and service PMI figures have improved. Maruti Suzuki's earnings figures have improved. The impact of the steps taken by the government will be seen this year and the economy will be better in the financial year 2020-21.

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