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Allocation for small sector `meagre'

Our Correspondent

Madurai , March 3

THE Madurai District Tiny And Small Scale Industries Association (Maditssia) has welcomed the various development schemes in the Union Budget for 2005-2006, including the long-awaited Small and Medium Enterprises (SME) development bill. However, it has observed that the allocation for the Small Scale Industry (SSI) scheme is not sufficient.

On the enhancement of the ceiling for SSI turnover from Rs 3 crore to Rs 4 crore, it said that there has been no specific mention about the existing concession on tariffs for the SSI sector.

Maditssia welcomed the maintenance of the rate of service tax, despite a suggestion to raise the same to 12 per cent by the Kelkar Committee. But it has said that the limit to exemption from service tax needs to be enhanced to Rs 10 lakh.

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