Financial Daily from THE HINDU group of publications
Sunday, Jul 11, 2004
Financial Daily from THE HINDU group of publications Sunday, Jul 11, 2004 |
||
|
|
||
|
Industry & Economy
-
Paper, Board & Newsprint Paper industry hails Budget Our Bureau
Chennai , July 10 THE Union Budget provides significant impetus for growth in agriculture, infrastructure development and health care according to Mr N. Gopalaratnam, President, Indian Paper Manufacturers Association. The Indian paper industry, as a core sector, does not gain anything specifically. However, the retention of peak rate of basic customs duty at 20 per cent and the removal of exemption of countervailing duty (CVD) on certain specified items are welcome. It is hoped that lightweight coated paper (LWC), which was hitherto exempted, will now be impacted with CVD, thereby preventing avoidable imports of LWC. This will offer an opportunity for the manufacture of LWC within the country. The two per cent education cess will spread primary education and have a positive impact on paper demand. The shift to a value added tax regime from April 2005 will bring down the incidence of tax on paper leading to its demand growth, he said. The paper industry welcomes the proposal for setting up "National Manufacturing Competitiveness Council" and looks forward to the industry's specific recommendations and policy initiatives to enhance competitiveness.
More Stories on : Paper | rd & Newsprint
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|