Seeks 100% depreciation on hardware and peripherals, exemption of customs duty on goods imported by ISP, seeks measures to increase penetration.
The Tyre Industry is one of the industries that have been majorly affected by the global economic meltdown.
Accelerated depreciation expires by September 2009 while funds under JNNURM for urban transport is available till June 2009; industry seeks these benefits for extended time period.
The Indian Textile Industry is currently one of the largest and most important industries in the Indian economy in terms of output, foreign exchange earnings and employment.
To reduce the cost of captive power generation, seeks removal of import duty on all capital goods used for small and medium power projects.
SST remains as a turnover tax (whether profit or loss) and not tax on income. Day traders and arbitrageurs, who generally trade on thin margins, are affected the most as STT raise their transaction cost. Any further hike in SST could prove negative and damper market sentiments. Removal or reduction in STT will pep up the stock market. Asset pricing is also likely to go up with reduction in transaction cost.
Union Budget 2009-10 comes at an opportune time for the New Government. The stake holders expects the New government to spell out its priorities -- be it to spur the economy from the current sluggishness, or to promote inclusive growth, or to contain the alarmingly high and rising fiscal deficit, or perhaps a good blend of all these!
Only Cement is assessed to retail selling price based excise duty but denied abatement; also seeks imposition of import duty due to emerging surplus supply situation in India
The growth in two wheelers were triggered by couple of factors such as 4 per cent excise duty cut announced in stimulus package in December 2008, fuel price reduction of Rs 5 per litre in petrol and Rs 2 per litre in diesel as well as the unaffected and untapped demand from the rural market.
As the sugar industry is witnessing an up cycle, the government may not give due consideration to the demands of the Industry. Rather the government is already focusing on curbing the rising sugar prices.
Realistically no major reforms are expected for the pesticides industry. Reduction in excise duty is very unlikely, as it would not solve the basic problem of spurious manufacturers.
Seeks cut in excise duty on pesticides from 8% to 4%, on furnace oil from 16% to 4% and removal of customs duty on Fuel Oil, LSHS, Coal
Seeks removal of commodity transaction tax, which was never notified amidst strong protests, reduction in securities transaction tax to cut transaction cost and boost volumes.
Petrochemicals sector seeks cut in excise duty on Naphtha to 8%, increase customs duty on polymers, chemicals & fibre intermediates to 10% and to remove customs duty on naphtha & propane.
Liberalization and telecom reforms are known to be necessary to hasten growth in tele-density.
While there is widespread expectation that excise duty is likely to be raised on revenue considerations, the fast moving consumer goods (FMCG) sector pleads for retaining them at current levels to spur demand.
IEEMA is again approaching the govt. with hope and puts forth the most critical issues / concerns of the industry requiring urgent attention of the govt.
NBFCs seek level playing field with banks in terms of treatment of NPAs, TDS on deposits, removal of service tax on HP and lease transactions, refinance mechanism akin to NHB etc
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