Income generating sectors to get more concessions in Budget 2007
22 Dec '06
1 min read
At a meeting with different export promotion councils held yesterday in New Delhi, Finance Minister P Chidambaram stated that sectors, which generate more employment might get concessions for export purposes in Budget 2007, including tax concessions.
Sources indicated that chief industries to get this advantage could be textiles, apparel, leather, gems and jewellery.
Chidambaram added that demand of many exporters had already been met by the Government and they are still realized with concern to interests of local industry and revenues at same time. Some demands were incorporated in last year's budget.
He was backed by Commerce Minister Kamal Nath who also interacted with the councils. Kamal Nath conveyed that interests of exporters and those of local sectors had to be leveled with each other and that capital goods industry must be secured.
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