Our Bureau

Mumbai, March 1

THE exporting community has expressed dissatisfaction over the Budget proposals.

The President of the Federation of Indian Export Organisations (FIEO), Mr O.P. Garg, said the Budget has no mention of relief for the exporting community in line with the foreign trade policy (2004-05) targets of $150 billion.

Amendment in Section 28 to include DEPB, a longstanding demand of the exporting community, has not been met. Neither have tax benefits been extended under Section 10-BA of the IT Act to artisans and cottage sectors in handicraft, handloom, textiles and carpets.

However, he hoped the revised direct tax bill would be placed separately and address the above issues.

Mr Garg added that the textile industry was hoping for a special package to give a fillip to investment in the sector so that it is competitive in the quota-free regime.

(This article was published in the Business Line print edition dated March 2, 2005)
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