The industry believes that Budget 2020 is a very important part. This is because the CSO has said in its figures that India's GDP growth rate in the current financial year can be around five percent. PhD Chamber President DK Aggarwal, while speaking on Budget Expectation 2020, said that at this time there is a need to cut individual income tax to increase domestic demand, besides ensuring adequate availability of liquidity to overcome the sluggish economy. Said to With this, Agarwal said that Prime Minister Narendra Modi's dream is that the economy of the country should be $ 5 trillion by 2024-25. If we talk about it, rapid growth is very important to meet this goal. In this direction, increasing consumption and increasing demand, especially at the rural level, is most important. Agarwal suggested that capital expenditure, to increase domestic demand, would have to increase spending in rural areas. Allocation needs to be increased under MNREGA. Advance instalment should be given under Kisan Samman.

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Apart from this, Agarwal said that advance instalment should be given under Kisan Samman Nidhi, this will help to increase demand. He said that personal income tax should be cut despite the decrease in tax collection. Earnings up to five lakhs should be exempted from tax exemption and tax rate should be 10 per cent on earnings up to Rs 10 lakhs. He said that in an effort to increase demand, if the fiscal deficit is 40-50 basis points ahead of the target If it gets out, then there is no need to worry because it is the priority to speed up the growth rate. MSME Sector Growth Engine of Inclusive Growth- Aggarwal is the growth engine of MSME Sector Inclusive Growth of the country. With this, such companies have not got the full benefit of corporate tax cuts, so to give a boost and level playing field to this sector. Steps have to be taken.

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The economy will be better this year
Agarwal hoped that the economy of India could improve this year. 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. Along with this, Maruti Suzuki's earnings figures have improved. The impact of the steps taken by the government will be seen this year and the economy may be better in the financial year 2020-21.

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