New Delhi: In the pre budget meet, India Inc has told government that if they want to handle economic depression, they will have to give lots of concessions in the budget and any increment in tax rates can directly hamper the growth rate. Government should also think about increasing the ambit of concessions so that India Inc as well as the people of the country should not face liquidity crunch. Finance Minister Pranab Mukherjee is expected to present 2012-13 budget in the mid-march.

On Friday, the Finance Minister met representatives of FICCI, CII, ASSOCHAM and other trade chambers. India Inc has presented a roadmap in which they emphasized on the need of disinvestments in public sector organizations. This move can not only help improve government treasury but also improve health of stock market.

India Inc has also requested government to increase their spending in social developments and put more emphasis on health sector. FICCI has said that if the government wants to ensure annual growth rate of 9 percent then they will have to achieve a minimum of 4-5 percent growth in agriculture sector. CII President B Muthuraman has said that to maintain fiscal balance, the government should prepare a roadmap for next 5 years and they should not delay in implementing GST.  
India Inc has asked the government to waive 0.5 percent interest rates. While addressing India Inc, Finance Minister Pranab Mukherjee has accepted that economy is going through challenging phase right now. The government is facing pressure to control inflation and fiscal deficit and they need support from India Inc, he added.