From : Mr. Prakash G. Dudani, Director General, AEMA
aema_1981@yahoo.com
To : The Hindu, Business Line
BudgetWishlist2009@gmail.com
I am giving below my expectations from the forthcoming budget :-
The Finance Minister must provide necessary fiscal relief, to the garment sector of textile industry which has been facing serious crisis due to worldwide recession, resulting in slowing down of orders and unit value realization from overseas markets particularly the US, Canada and European union countries. I do hope that the Finance Minister would consider the long pending demands of the garment exporters to increase the duty drawback rate by 5%, adequate and need based bank credit to exporters at reasonable rate of interest not exceeding 7%, to restore 100% Income Tax exemption under section 80HHC of the Income Tax Act and implement labour reforms to prepare the Indian Apparel industry to meet the increasing international competition.
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