Lower tax on term deposit income, direct refinance for NBFCs top financial-sector wish list – The Financial Express

The financial sector is hoping for a lower tax rate on term deposit income and direct refinancing options for Non-Banking Financial Companies (NBFCs) to be included in the upcoming budget. This wish list comes as a way to boost the sector and promote growth. By reducing the tax burden on term deposit income, individuals and businesses will have more incentives to invest in these financial products. Additionally, providing NBFCs with direct refinancing options will help them access much-needed funds to continue their operations and support economic activities. These measures are seen as vital steps in ensuring a stable and thriving financial sector in the country.