Pre-Budget memorandum proposes broad tax law amendments, GST reforms, and expanded roles for cost accountants.
The Institute proposes amendments to direct tax provisions (definitions, capital gains holding periods, expanded exemptions and increased deduction limits), enhanced investment and R&D deductions, inclusion of electricity charges within section 43B on cash basis, and procedural reforms recognising cost accountants for mandatory valuation and certification roles; concurrently it seeks GST reforms including re framed place of supply rules, broader input tax credit availability, national single registration and certification of open market value and transitional credits by practicing cost accountants.

Cooperative federalism: pre-budget state consultations inform federal budget formulation, with state suggestions to be examined and considered.
Pre-budget consultations convened at Vigyan Bhawan enabled state and UT finance ministers and senior officials to present fiscal policy suggestions; the Union Finance Minister stated that those suggestions and memoranda would be examined and suitably considered in formulating the 2018-19 Budget, guided by the principle of cooperative federalism.

Public health investment urged to expand hospitals and infrastructure, improving access and addressing non-communicable disease burden.
The report urges prioritising increased public sector healthcare investment in the budget to expand and maintain public health infrastructure-including new hospitals, upgraded district and town centres, additional bed capacity, and medical colleges and nursing academies-guided by National Health Policy (NHP) 2017, with dedicated allocations for non-communicable disease management and expanded provision of free drugs, diagnostics and emergency services, and potential dual use of incentivised infrastructure for medical tourism.