The Hindu Business Line : CII urges removal of distortions in duty structure

THE Confederation of Indian Industry (CII) has urged the Government to remove distortions in the duty structure, which in turn will give a boost to the capital goods sector.

In its pre-Budget memorandum the chamber has said that the capital goods sector, with a share of 9.6 per cent in the index of industrial production, has been facing the brunt of economic slowdown.

The chamber feels that the key constraints, which have inhibited the growth of this sector, are negative protection, distorted customs duty structure, shortage of funds and reduced capital expenditure, and lower investment in infrastructure projects.

It has also requested the Government not to extend the purchase preference of 10 per cent for the public sector (to lapse on March 31, 2002), so as to increase competitiveness in the sector.

Send this article to Friends by E-Mail

Stories in this Section
Tax body seeks lower rates, withdrawal of exemptions

CII urges removal of distortions in duty structure

Govt moves to speed up APM regime phase-out

Prices of 45 drugs down, 4 up

States to face Rs 9,000-cr hit in tax transfers

Dumping duty on PSF imports irks textile cos

PM for rethink on khadi rebate

Adidas to boycott leather from India, China

Push strategy proposals on time-bound basis: EEPC

Taiwan wooing India Inc with hardware tech

`Lift barriers on Internet telephony'

Bengal jute industry yet to recover from labour crisis

Tatas, Reliance bid for VSNL

Keskar proposal may be accepted

Income of charitable trusts -- The exemption dimension

Exports register 1.11 pc growth in Dec

Drive to promote tourism in West Asia