Riding on the rising price scenario, the sugar sector can hardly expect any benefit from the Union Budget 2010-11.
The IT-ITES industry is going to difficult times with the slowdown in the global economies. The volume growth is now a worry. The Companies have stopped recruiting and are sitting on a bench strength.
We don't expect any big changes in on excise duty and custom duty rates, except in life saving drugs.
Extending credit facilities and introduction of presumptive tax/turnover tax will benefit industry for a better performance.
If excise duties are revised upwards, it will affect the FMCG sector, which is witnessing sequential rise in its input costs.
It would be pertinent to rationalize the duty on polymers to generate more investment in the sector.
The industry wants the excise duty on pesticides to be reduced to 4% from the current level of 8%. It also seeks radical cut in excise duty on Furnace oil to 4% from the current level of 16%.
Exemption of excise and customs duty on liquid fuels, abolition of service charge, rescheduling of loans for all textiles and clothing units will reduce pressure on the industry and will help to improve liquidity.
Only the government's emphasis on infrastructure, special announcements on key sectors like telecom, automobiles, etc in the coming Budget can bring cheer to the plastic industry.
India needs to hardsell itself as a preferred tourism destination in overseas markets, besides promoting domestic tourism. We expect the Union Budget 2010-11 to be positive for the hotel industry.
Textiles are the major users of dyes and pigments. So, any benefit to textile sector will also indirectly benefit the dyes and pigment sector, in terms of better demand.
The thrust on agriculture, removal of Fringe Benefit Tax etc should help improve the earnings of the FMCG sector
The unchanged duty structure for the cement industry is a major disappointment. However impetus for rural growth and infrastructure development will ensure healthy demand to continue.
Cut in specific excise duty on large cars of engine capacity 2000 CC and above by Rs 5000, levy of service tax on transport through rail, coastal cargo and through inland water.
The levy of service tax for transport of goods by rail, transport of cargo, goods through inland water including national waterways will hike the transport cost.
Excise duty on folders, file covers, manifold business forms & other articles of stationery, of paper or paperboard except notebooks and exercise books is being increased from 4% to 8%.
The budget proposes to enhance the allocation to the Department of Information Technology from Rs 1952 crore in 2008-09 to Rs 2802 crore in 2009-10. The budget proposes allocation of Rs 600 crore towards establishing National Knowledge Network, Rs 900 crore towards e-Governance programme, Rs 550 crore towards National Informatics Centre and Rs 125 crore for Centre for Development of Advanced Computing for undertaking R&D.
The budget has increased the outlay for the Ministry of Civil Aviation by 21% at Rs 12165 crore from Rs 10031 crore for FY2008-09. However, the revised estimate for FY2008-09 was at Rs 7490 crore against the outlay of Rs 10031 crore.
The Union Budget 2008-09 has focused on farm credit.
The Union Budget 2009-10 has proposed to extend the terminal date for starting the power generation by cogen plant by one more year.
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