S
FOC
Balwant Rai Gupta |
The Laghu Udyog Bharati feels that the small-scale sector has not been given a fair deal in the budget. Expressing shock and disappointment at the proposed increase in excise duty from 8 to 12 per cent on steel, the LUB president, Balwant Rai Gupta said the additional burden would adversely affect the SSI units. The cost of raw material would increase and would provide unnecessary competition to SSI from large-scale industries and multinational companies. Shri Rai termed the de-reservation of 85 more items from the reserve list of SSI as another matter of concern for the small-scale sector. ?It was expected from the government to increase the number of items reserved for the SSI, but it has further de-reserved 85 items from the list,? he said, urging the government to reconsider this proposal and provide specific favourable package to SSI. He also termed the proposed fund of Rs 135.24 crore earmarked for the promotion of SSI, has insufficient.
