Confederation of Indian Industry, CII today asked Finance Minister Pranab Mukherjee to retain the current rates of excise and service tax in the Budget to boost investments.
CII said in its pre-Budget memorandum that there is a strong need for retaining the current rates of excise and service tax to spur investment by the industry.
As the government is faced with widening fiscal deficit, there are apprehensions in the industry that excise duty may be hiked in the Budget.
Finance Minister Pranab Mukherjee will present the Budget for 2012-13 on March 16.
