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SSI's ignored in union budget: IIA president

Written by: Staff
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Kanpur, Mar 1 (UNI) President of the Indian Industries Association (IIA) Tarun Kshetrapal today expressed dissatisfaction over the Union Budget, saying that Finance Minister P Chidambaram has ignored the interests of small scale industries, that had a 35 per cent share in the country's exports.

Talking to media persons here, Mr Kshetrapal said that despite cutting down customs and excise duties the FM had failed to extend benefits to the SSIs that were providing 70 per cent jobs, besides making available basic infrastructure to medium and large scale industries.

Mr Kshetrapal appealed the Finance Minister to reduce the rate of central sales tax from four per cent to two per cent. He further demanded to exemmept from the service tax net, those units whose annual earnings were less than 25 lakhs.

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