Uttarakhand Congress leaders meet Sonia Gandhi, seek CIP package

New Delhi, Mar 29 (ANI): Congress leaders from Uttarakhand met party President Sonia Gandhi on Monday to seek an extension of the Concessional Industrial Package (CIP) for the state for another three years.

The Bharatiya Janata Party (BJP) -led Government in Uttarakhand has sought the extension of the industrial concession package till 2020.

“We want industrial development (of the state) but Indian government should also get taxes. Why we should extend industrial concession (for such a long period)? Why we should not tax them for 20 years? It is a loss to the nation,” said Congress leader Vijay Bahuguna.

“We need to strike a balance between regional development and tax collection. The period will be extended but BJP is giving it a dramatic colour,” Bahuguna added.

Congress leaders claimed the package might be extended as per their demand.

“We are sure that industrial package will be extended. All of us along with observer of the state, R K Dhawan, are going to meet the Prime Minister Dr Manmohan Singh this evening or tomorrow, to demand the extension of the package till 2013,” said Congress leader Tilak Raj Bahal.

Meanwhile, Uttarakhand Chief Minister Ramesh Pokhriyal Nishank along with his entire cabinet called on Dr Singh to demand an extension of the Concessional Industrial Package (CIP) for the state for another ten years.

The state government wants the Centre to extend the package — ending on March 31 2010 — till 2020 on the lines of a similar provisions extended to the northeastern states.

Nearly 2,000 industrial units have been set up since the launch of the package, which provides tax holiday for them.

According to the state government, it has resulted in jobs for 121,811 people. (ANI)

Anand Sharma unveils foreign trade policy

New Delhi, Aug 27 (ANI): Union Commerce and Industry Minister Anand Sharma on Thursday announced a new foreign policy for the next five years which aims at an export target for 2010-11.

He said that the duty refund scheme will continue till December 2010, while income tax holiday for export-oriented units will be there for one more year.

Sharma said capital goods will attract zero duty till March 2011 to encourage manufacturing.

Sharma said the immediate goal was to arrest decline in exports and to achieve 200 billion dollar export target by 2011.

He envisaged 15 percent growth for first two years and then 25 percent for the next three years.

He also said that with this India would be able to double its exports by 2014. He also set the target of doubling India’s share in global trade by 2020.

For exporters duty exemption passbook scheme has been extended after December 2010.

Tax holiday for export oriented units will continue for one more year.

India’s exports fell at an annual rate of 27.7 per cent in June to 2.8 billion dollars, its ninth straight monthly fall, as economic downturn in key developed markets continued to hurt demand for local goods. (ANI)

Brass traders hope for some relief in budget

Moradabad, July 3 (ANI): Artisans and traders associated with the brass industry, which has been hit by the recent recession, are hoping for some relief in the government’s budget to be presented on July 6.

The brassware industry is recognized the world over for its unmatched range of brass antiques and brass decoratives. There are number of small-scale brassware manufacturers, brassware suppliers and brass handicrafts manufacturers in Moradabad.

The economic slowdown and the fall in the prices of brass material have affected many exporters. Now, they hope the budget will provide some sops for them.

“My expectations from the budget are that there should be tax exemptions. This tax holiday should be for a period of five years at least.

Also, the service tax exemptions should be on export industry in general and particularly for handicrafts,” said Sahab Alam, a brass exporter.

Another problem that many small factory owners face is the availability of raw materials.

“We want that the government keep storage for raw materials that are required in the brass industry.

Secondly, they should be made available to the small factory owners at right prices with the help of the General Manager District Industries Centre,” said Hadi Hasan Ansari, a factory owner.

India consumes about 100,000-150,000 tons of brass, of which about 70 per cent is imported.

Largely dominated by unorganised sector players, brass is used in handicraft and arts, which have a good export market, mainly from America and European nations. (ANI)