The minister, who is also Minister for Environment, Forest and Climate Change, said the government has simplified the process of environmental clearances.
Consumer-oriented sectors may potentially pass on part of the savings in the form of discounts or price reductions to revive demand, especially in the current context of subdued consumer demand.
To stabilise flow of funds into the capital market, the enhanced surcharge introduced by the Union Budget will not apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for securities transaction tax.
Currently, those with income of upto Rs 2.5 lakh are exempted from tax net. However, this limit may be raised to 3 lakh in the upcoming Budget. The proposed tax will put at least Rs 2,500 more money in the hands of taxpayers, thereby giving an indirect impetus to the economy.