Budget good for the SSI sector

Mumbai, Feb 28 (UNI) Chamber of Small Industry Associations president M R Khambete has welcomed the Union budget saying certain reliefs have been provided to the SME sector in view of its potential to generate more employment and enhance its competitiveness.

''The hike in excise exemption upto Rs 1.5 crore is a major relief to this sector. Concessions to the food processing industries, plywood, water purifying equipments and bio-diesel, will prove useful for the growth of these industries,'' Mr Khambete said.

The custom duty relief for chemicals, plastics, polyester yarn, food processing machinery, medical equipments and edible oils, and so also the cut in peak custom duty on non-agro products, will ensure growth of this sector, he said.

The reduction in excise duty by 2 per cent on petrol and diesel will result in lower transport costs and will help to control the inflation, he added.

UNI