Union Budget will
help in reviving Export Sector – Dr. A. Sakthivel, Regional Chairman, FIEO
Southern Region
While welcoming the broad thrust of Budget which realizes the issues faced by the
exporters in the global markets Dr. A. Sakthivel, FIEO Regional Chairman said
that emphasis on rail and road by increased investment along with better port
connectivity will help in increasing
export and reducing transaction cost.
Initiatives towards
Ease on Doing Business, focusing MSME as
well as facility of deferred payment of custom duty etc. will help exporters in
reducing their transaction cost. Changes
in custom duty on certain inputs and steps for
improving competitiveness of
industry in sectors like information technology, hardware, capital goods,
defense purchases, textiles, chemicals, paper etc. are expected to arrest the
downward trend in exports.
He also expressed
his happiness on more allocation of Skill Development Fund. Dr. Sakthivel also complimented Finance
Minister for allocating Rs.3350 crores
for Textile Industry which
includes Rs.1480 crores for amended TUF and Rs.300 crore for development of
mega clusters.
However Dr.
Sakthivel expressed his concern on the proposal of excise duty on branded
readymade garments and made up, articles of textiles, etc. with the retail sale
price of more than Rs.1000. This will
adversely affect the industry and also difficult to administer, Dr. Sakthivel
added.
Dr. Saktivel also
complimented Government for giving focus
on agriculture especially development of infrastructure from “Farm to
Fork” which will help the country to reduce wastage of fruits and vegetables
which is highest amongst the world.
The contribution of 8.33% by the Government for all new employees
enrolling EPF for the first three years of their employment will go a long way
in creating more jobs and incentivize
MSME to recruit more employees Dr. Sakthivel added.
Federation of Indian
Export Organisations
Southern Region
Spencer Plaza, Unit
No.706, 7th Floor,769, Anna Salai,
Chennai - 600 002
Phone:
+91-44-28497766, 28497755, Fax: +91-44-28496666
Email:
fieosr@fieo.org
Website:http://www.fieo.org
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