After Union budget 2008-09, Mr Rakesh Gothi, the Managing Director of JBF Industries Limited, told Fibre2fashion, “This year budget has not met the expectations.
“We were looking forward to deductions in customs duty on raw materials like PTA and MEG, and reductions in excise duty on finished goods also not happened. In addition, there is accumulation of CENVAT, which needed some level of harmonization and nothing positive happened in this regard.”
Further, the JBF MD said, “The only silver lining was removal of 1 percent NCCD on polyester filament yarn.”
Fibre2fashion News Desk - India
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