Small time entrepreneurs expect a favourable budget

February 19th, 2008 - 6:40 pm ICT by admin  

Chandigarh, Feb 19 (ANI): Small time entrepreneurs here are doing their best to draw Union Finance Minister P. Chidambaram’s attention towards their problems.
Even as these small-scale industries are the largest employers in the organised sector, the sector laments the government’s indifferent attitude towards them.
They are demanding that the government should impose excise duty on the product rather than on the turnover in view of the rising cost of various inputs, including raw materials.
They also demanded reduction of Value Added Tax (VAT) and uniformity in tax rates across the country.
“I request the Finance Minister to increase the income tax slab from 1.5 lakh to 4.5 lakh. The excise duty which is currently imposed on the turnover should also be imposed on the produce,” said D P Singh Baidwan, an industrialist.
According to the industry, the demands are very basic. They say that their issues are as simple as dismal power supply, high transportation costs and infrastructural bottlenecks.
“Due to shortage of power, factories have to be closed down. We suffer losses on that account. There should be a package according to which uninterrupted power supply is provided to us,” said Charanjit S Rehal, another industrialist.
The sector hopes that most of their problems would be addressed when Chidambaram delivers the budget. He will announce the annual general budget on February 29. (ANI)

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