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Mr Vellayan

Chennai, Feb. 28

The Budget fails to provide much needed relief to the sugar and fertiliser industry, according to Mr A. Vellayan, Vice- Chairman and Director-Strategy, Murugappa Group. He said it was disappointing that the Finance Minister did not reconsider the fringe benefit tax. Though Mr Chidambaram has increased the fertiliser subsidy by Rs 5,000 crore, it is clear that the industry needs Rs 15,000 crore. This will hit the fertiliser companies hard. The budget also fails to support the sugar industry, which is in a `bad shape.' Any help to the industry would have benefited lakhs of farmers, he added.

More Stories on : Budget | Sugar | Fertilisers

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