Interviews
Pratibha Ind unhappy with Budget
29 Feb '08
1 min read
Pratibha Industries, Chairman, Pramod Chaudhary, when contacted by Fibre2fashion to know whether his expectations have been met from the Union Budget 2008-09, asserted that even though it's a popular budget, overall it's not encouraging enough.
The company had various expectations like reduction of corporate tax from 35 to 30 percent, alongwith cut in excise duty of capital goods, yarn and so on.
The Chairman, Pratibha Industries, said, "Our demands have not been taken into consideration, as there is no boost provided to textile industry. Over and above this, the custom duty on Naphtha has increased by 5 percent, leading to rise in cost of finished product."
The company had various expectations like reduction of corporate tax from 35 to 30 percent, alongwith cut in excise duty of capital goods, yarn and so on.
The Chairman, Pratibha Industries, said, "Our demands have not been taken into consideration, as there is no boost provided to textile industry. Over and above this, the custom duty on Naphtha has increased by 5 percent, leading to rise in cost of finished product."
Fibre2fashion News Desk - India
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