Suffering from stiff competition because of the heavy flow of imported bicycle and bicycle parts from China, the Federation Of Tiny Small Industries Of India (FOTSII) has demanded a minimum floor price on the import of bicycle and bicycle parts from China, which has adversely affected the domestic industry, particularly at Ludhiana. FOTSII President Joginder Kumar said, “We have sent this suggestion to the finance minister so as to include it in the Budget.”
He also demanded a special package for micro enterprises in view of their enormous contribution to the economic and social development of the country. Kumar sought interest subvention to micro enterprises, at par with Agriculture.
Recently, ahead of elections, the Government provided 3 per cent interest subvention to weavers. Kumar also impressed on the finance minister that the Technological Upgradation Fund (TUF) for the textile industry, which will expire on March 31, should be extended in the 12th Five year Plan. The TUFF scheme for the light engineering industry at par with the textile industry should be provided in order to upgrade the technology and be competitive internationally, he added.
The Federation Of Tiny Small Industries Of India president raised the issue of printing industry, for which the input excise duty is 5 per cent whereas the output excise duty varies from 5 to 10 per cent on various products. The offset printing industry manufactures intermediate products, ie packing material for other industries.
The input and output excise duty should be 5 per cent, as in the case of plastic bags, wherein the duty is same, he opined. Kumar also demanded an exemption for agro-based industries, ie plywood etc, which have to pay hefty excise duties.
Source : indianexpress.com