showing the shrinking consumption demand.
“Prices will go up of all consumer goods as basic raw material like steel and power has become expensive. Import content is another issue. It is not restricted only to consumer durables. However, I don’t think it will impact festive season sale. People who have been buying will continue to do so,” Venugopal Dhoot, chairman, Videocon Group, said.
‘Issue sovereign bonds, exempt FIIs from capital gains tax’
New Delhi: India must take urgent measures like issuing sovereign guaranteed bonds and exempting FIIs from short term capital gains tax to stem the rupee’s slide, India Inc said on Wednesday.
“Consideration has to be given to issuing a sovereign guaranteed bond which would be of a substantial amount. Additionally, we need to explore if FIIs can be exempt from short-term capital gains tax,” CII president Kris Gopalakrishnan said.
“While the government and the RBI have been taking measures to curb speculation, more needs to be done on this front to remove the avoidable edge to volatility,” CII said.
President of PHD Chamber of Commerce and industry, Suman Jyoti Khaitan, said,“You have to increase supply by investment in capital goods sector. Export sector must be given a boost to reduce the CAD.” pti