Finance Minister to consider coir sector plea for excise waiver

Kochi, Mar 17 (UNI) Union Finance Minister P Chidambaram has agreed to consider the request of the coir industry for exempting coir and coir products from the purview of excise duty, Coir Board chairman A C Jose said today.

In a statement here on behalf of Mr Jose, who met the finance minister in New Delhi last evening, the Coir Board said that Mr Chidambaram was apprised of the adverse situation faced by the Indian coir industry due to the budgetary proposal to levy excise duty on coir products.

The coir industry was totally exempted from the purview of the central excise duty vide a Central Government notification of 1975.

Mr Jose urged the finance minister to continue with the exemption in view of the vast employment generation potential of the coir sector and the socio-economic well being of the rural masses in major coir producing states like Kerala.

He also pointed out that the coir industry had been included in the national Common Minimum Programme of the central government, delineating a definite plan of action for the regeneration of the industry and the sustainable all-round growth of the sector.

UNI ARC VV SM1930