Budget 2025-26, CII seeks cut in income tax

Apex business chamber CII on Monday urged Finance Minister Nirmala Sitharaman to reduce personal income tax for individuals earning up to Rs 20 lakh per annum, introduce a three-tier customs duty structure with higher tariffs on finished goods and go for a 25 per cent increase in government capex in the Union Budget 2025-26 to spur growth in the



economy.

At a meeting held here with the Finance Minister in the run-up to the Budget, CII president Sanjiv Puri CII suggested the adoption of a 3-tier customs tariff structure with rates of inputs at 0 – 2.5 per cent, intermediates at 2.5 – 5.0 per cent, and final goods at 7.5 per cent over a period of time, with certain exceptions.