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Tiruchi, March 2

The Tiruchi District Tiny and Small Scale Industries’ Association has welcomed the Union Budget, saying it is oriented towards savings and infrastructure development. Removal of customs duty on scrap will help in infrastructure development and reduction of excise duty will lead to progress of the automobile sector. Reduction in personal income tax would result in higher savings and encourage willing compliance in tax payment, thereby augmenting revenue for the Govern ment, the association President, Mr S. Sridharan, said adding that the Budget has paved way for conversion of hidden income into income generating assets.

— Our Bureau

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