Financial Daily from THE HINDU group of publications
Thursday, Mar 13, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 13, 2003 |
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Industry & Economy
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SSI States to provide tax relief to SSI sector Our Bureau
NEW DELHI, March 12 THE Governments of Kerala, Rajasthan, Jharkhand and Uttranchal, among others have said that the khadi village and small-scale sector in their States will not be taxed. Addressing a press conference, the Chairman of the Khadi and Village Industries Commission, Mr Mahesh Sharma, said that the Commission had also approached the Empowered Committee on the implementation of VAT, while the Ministry had written to other departments of the Government for continuation of the exemption which the SSI sector enjoys at present. "`How can you think of asking some poor lady who is making papad to pay tax? There is absolutely no case for imposing tax on small artisans. This is not a sector to be taxed," Mr Sharma said. On the impact of implementation of a VAT system on the sector, Mr Sharma pointed out that this was a matter which concerned the State Governments. "Several State Governments are sympathetic to the cause of the sector. We are getting positive response from several States," Mr Sharma added. Meanwhile, the Prime Minister, Mr Atal Bihari Vajpayee, is to inaugurate the three-day national convention on `Rural industrialisation,' here on March 14. Apart from the Prime Minister, the Minister for Finance, Mr Jaswant Singh, the Minister for Human Resource Development and Science and Technology, Dr Murli Manohar Joshi, and Deputy Chairman, Planning Commission, Mr K.C. Pant, are also to address the convention. Among the topics to be discussed at the convention include rural employment generation, science and technology for rural industrialisation, marketing strategy for rural products and artisan upliftment in khadi. Besides, awards for excellence will also be given to best khadi and village industries institutions, best artisan and best banker among others. During the convention, KVIC is to sign memorandum of understanding (MoU) with seven Indian Institutes of Technologies (IITs) and another five MoUs with National Institute of Information Technology (NIIT). Mr Sharma added that going by current trends the group's turnover should cross Rs 10,000 crore during the year.
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