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FM requested to extend TUF scheme at Pre-budget meet
10 Jan '07
2 min read
Industry Specific:
Textile:
- Extend the Textile Upgradation Fund (TUF) by another five years ;
- Provide capital subsidy for processing hubs;
- Provide support system for relocation of old existing units.
Small Scale Enterprises (SSI):
- Increase limit for excise exemption to Rs.3 crore and rationalize excise duty rates to provide a phasing in of the increase in the rates;
- Remove anomalies in the excise duty structure;
- Remove FBT on small and medium enterprises;
- Ease depreciation norms;
- Increase tax audit exemption limit;
Tourism:
- Provide “infrastructure” status to tourism industry;
- Earmark funds collected for maintenance of heritage structures;
- Increase budgetary allocation for promotion of India as a tourist destination.
Apart from the eminent industrialists and industry organsiations, the meeting was also attended by Ministers of State for Finance Shri Pawan Bansal and Shri S.S. Palanimanickam and senior officials of the Ministry of Finance.
GET LATEST UPDATE ON UNION BUDGET 2007-2008
Textile:
- Extend the Textile Upgradation Fund (TUF) by another five years ;
- Provide capital subsidy for processing hubs;
- Provide support system for relocation of old existing units.
Small Scale Enterprises (SSI):
- Increase limit for excise exemption to Rs.3 crore and rationalize excise duty rates to provide a phasing in of the increase in the rates;
- Remove anomalies in the excise duty structure;
- Remove FBT on small and medium enterprises;
- Ease depreciation norms;
- Increase tax audit exemption limit;
Tourism:
- Provide “infrastructure” status to tourism industry;
- Earmark funds collected for maintenance of heritage structures;
- Increase budgetary allocation for promotion of India as a tourist destination.
Apart from the eminent industrialists and industry organsiations, the meeting was also attended by Ministers of State for Finance Shri Pawan Bansal and Shri S.S. Palanimanickam and senior officials of the Ministry of Finance.
GET LATEST UPDATE ON UNION BUDGET 2007-2008
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