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Good initiative in background of fiscal deficit: FIEO Chief

26
Feb '10
While President appreciated FM view to earnestly try to introduce GST from 1st April 2011, he felt that Government should have come with road map to force the issue. Mr A Sakthivel, President, Federation of Indian Export Organisations (FIEO) hoped that before introducing Direct Tax Code from FY 2011, the concern of exporters particularly SEZ units will be addressed.

FIEO Chief thanked the Government for extending 2% interest subvention for exports for one more years , but added that exclusion of textiles ,leather ,marine and gems and jewellery will add to the woes of thesesector as some are still showing decline while other exhibited growth on very low base.

Non extension of sunset clause to software technology parksand EOUs will put pressure on such units said Mr Sakthivel which are already facing fierce competition from low cost economies besides struggling tomanageexchange rates.

President FIEO thanked the FM and Textile Minister for allocation Rs 200 Crore to Tirupur, knitwear export cluster, for marine discharge project to meet environment concern. He also added training of 30 lac workers for textile unit will address capacity building concern of textile sector.

FIEO Chief complimented Finance Minister for bringing down fiscal deficit from 6.9% to 5.5% in 2010-11.

Federation of Indian Export Organisations


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