The interim Budget contains little for industry as a whole and more so for the forging industry,said the Association of Indian Forging Industry,in a press release. It has called on the government to ban municipal and state transport buses that are older than 10 years in cities and rural and semi-urban areas. This move will boost demand in the forging industry,said the release.
The association has also asked the government to give incentives to encourage people to buy vehicles. The association has suggested various measures to boost exports and address liquidity crunch. These include bringing down steel prices in consonance with international prices,increasing DEPB to benefit exporters,levy duty on import of auto components,reducing interest on working capital requirements and long term loans,restructuring of delayed loan payments without penalty and relaxing NPA norms.