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Sangam Associate VP comments on Budget 2007

28
Feb '07
L.L. Soni, Associate Vice President of Sangam India Limited comments on Budget 2007:

The budget is partially satisfying the demand of the industry.

TUFS extension is good and the reduction in custom duty of polyester fibre is also favorable part.

But again it is lemmatize to only PSF. We should also get extension to VSF.

We also expect excise duty cut to all man made fibre (MMF) and cotton. So it is lacking point.

On the one hand, the government is reducing duty from textile sector and on the other hand the excise duty on textile machinery has increased. So it is partially favorable.

We even expect labor sector reformed which is not done in the present budget.

India also require textile sector reformed but it seems little difficult.

TUFS should be extended to handloom sector also.

Suddenly, the budget is overall good. Though it is partially satisfying industries demand and India will be more competitive. So it is good.

Sangam India Limited


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