mangaluru a week ahead of the union budget apex industry body assocham impressed upon the government rbi and the banks to ensure adequate liquidity into nbfcs provide investment incentives and cut corporate tax rates for revival in the economic growth and creation of new entrepreneurial opportunitiesassocham president balkrishan goenka and senior vicepresident niranjan hiranandani sought specific measures to address the liquidity issues being faced by nbfcs it could be a special window onetime roll over or any other step rushing companies into nclt because of liquidity shortages is not the solution said goenkawe demand 100 per cent depreciation in the first year of new investment a five per cent cut in the corporate tax will revive investment he addedtalking about the significant potential in indias tourism sector goenka said there are more than 1200 islands which need to be developed with ppp model these could be handed over to developers for 203040 years to develop the infrastructure for better connectivity besides visa on arrival facility should also be extended to ensure hassle free visit of foreign touristscertain segments like automobile construction housing nbfcs aviation and exports are facing rough weather owing to multiple factors and require a delicate handling in terms of policy and fiscal measures along with these measures the gst council may be impressed upon for rationalising taxes on vital sectors like automobiles and cement to lower slabs of 18 per cent for demand generation while sectors like jewellery making may be helped with lowering of import duty on gold as prices of the yellow metal are shooting up in the international market revival of the nbfcs with the help from the rbi and the banks is key for boosting consumption demand and investment the assocham has made a recommendation for raising the personal income tax exemption to rs 5 lakh and reduce the corporate taxes to 25 per cent to spur consumption and investment fdi threshold for some key sectors like defence and insurance may be revised upward or eliminated hiranandani said the sectors like housing real estate construction have a huge multiplier effect on the economy creating millions of jobs adding immense wealth to the exchequer and lifting the consumer sentiment so there is a great expectation from the finance minister particularly with regard to these sectorsthe narendra modi government had done a commendable work in affordable housing during its first term the focus on affordable housing is expected to continue with further refinement in the scope of the scheme for interest subvention besides the issue of redevelopment of land and making land available in the metro cities for bringing prices in the affordable range would require the urgent attention he said with retail trade being the backbone of the economy commercial real estate is critical for growth of organised retail which must come up manifold in malls and specialised complexesthe suggestion for creating a stress fund for the stalled housing and real estate projects should be pressed for as with not too large a corpus