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SGCCI expresses dissatisfaction with budget
Mar '08
Giving his valuable comments on Budget 2008-09, Mr Arvind Kapadia, President of SGCCI, expressed displeasure saying that only one particular sector has been given relief incentives while the others have been ignored to quite an extent. Tax relaxation was expected for other industries as well.

Mr Kapadia emphasized on the fact that the budget this year was drafted keeping the common man in mind. However, he also noted that, “Surat is being neglected since the minimum requirement of TUF is Rs1,600 crore while the Government has only allotted Rs1,090 crore for the pupose.”

Besides, the (SGCCI), Head, also asserted, “Installation and relaxation on textile machineries also did not find a place in the budget and even the diamond sector did not receive any kind of package.”

Another major grievance against the Government was that the budget focused on North India with regard to IIT streams while Gujarat was avoided again.

Fibre2fashion News Desk - India

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