Rajeev Bhambri, CFO, Supreme Yarns is one of the few happy industrialists who is satisfied with the Union Budget 2007-2008.
During a conversation with Fibre2fashion, he said "I am very happy with TUFS extension and it is good that excise duty on polyester fibre has decreased so it is going to reduce price the polyester sector."
The budget will help entire textile industry for expansion as textile parks have been extended so big companies are gong to help advantage of the same and India will definitely fair globally.
Budget is moderate but we were expecting abolition of education tax also but that did not take place.
Dividend tax has been also increased from 12.5 to 15 percent so that is again burden for the company.
All over we can say that textile industry is more benefited by this budget. Budget was normal nothing to gain nothing to loose.
Fibre2fashion News Desk - India
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