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In a bid to fix the issue of investments there is a need to come up with certain incentives in addition to the Foreign Direct Investment, suggested the industry body Assocham ahead of the Union Budget 2019-20.
"There is a need for investments in the industry so certain measures like five per cent cut on the corporate tax can bring the changes needed," said Balkrishan Goenka, President, Assocham.
Talking about the liquidity crisis, Goenka added that lot of sectors have been impacted due to liquidity crisis.
"Post the dismantling of FIPB now there is no nodal agency and overseas companies who come to India for FDI have to go through various departments. So, we have suggested that a desk should be set up for major FDI contributing countries," added Goenka.
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