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Pre-Budget memorandums from various sectors
In a series of pre-budget memorandums a number of sectors of the economy have asked for various changes:

The Federation of Indian Textile Engineering (FITE) has urged the government to provide a competitive environment to indigenous manufacturers by banning the import of second hand textile machinery. FITE has also asked for cuts on excise duty on raw materials and machinery.

The Automotive Component Manufacturers’ Association (ACMA) has asked for uniform customs duty on auto-components and vehicles.

The Chamber of Income Tax Consultants (CITC) has asked for raise in the exemption limit for income tax from Rs 40,000 to 60,000, exemptions for taxation and transport allowance for employees and exemptions from obtaining permission for voluntary retirement schemes. CITC also suggested full interest should be allowed on loans for residential houses, rebate for repayment for housing should be granted separately for amounts upto Rs 60,000 and full depreciation should be allowed for plant and machinery costing upto Rs 10,000.

The union ministry of urban affairs and employment has forwarded its demands for fiscal concessions for the housing sector. To attract new investors, the ministry wants the housing sector to be accorded the status of infrastructure for availing concessions under sections of the Income Tax Act. Among the other demands were: income tax concessions to housing finance firms to raise low cost funds for lower income groups; removal of rental income from wealth tax assessment; relief from capitals gains tax for reinvestment of sale proceeds in construction or acquisition of property; permission to companies for external commercial borrowings and income tax exemptions for sale of property to NRI’s to bring in convertible and non-repatriable forex.