The Confederation of Indian Industry (CII) has urged the government to rationalise direct taxes which would help consolidate the manufacturing sector, mitigating the effects of the global slowdown, and also facilitate its transition to the next level of growth.

"Rationalisation in direct taxes is among the critical policy instruments with which the government can help the manufacturing sector to consolidate its position not only to mitigate the effects of the global slowdown but also to facilitate its transition to the next level of growth," the CII said in a statement.