Union Budget 2007-08 will be announced day after tomorrow by Finance Minister P Chidambaram. Big players want the budget to bring positive results.
Vishwesh Patel, Director, Vishwesh Textile, informed Fibre2fashion about a negative aspect of the budget.
According to Patel, budget declared every year by Chidambaram is not in favour of the common man because although it appears to be nicely framed, there is unnecessary upturning of taxes.
For instance, an industrial person paying sales tax/excise duty on a particular product has to pay service tax on the same product, which is not welcome.
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