Budget Buzz

8226; A 16 mandatory excise duty on manmade fibres and 24 on polyester filament yarn imposed. On other manmade filament yarn, the rate kept at 16

8226; Manufacturers were given the choice between the two tax routes, ie Cenvat or exemption route

WHAT I DON8217;TEXPECT IN BUDGET 2005

Labour reforms is needed in the interest of the workers, industry and economy. But it may not happen because it is not in the interest of career-oriented and professional trade union leaders.
-D K Nair, Secretary General The Indian Cotton Mills8217; Federation

8226; Industry is crying for an increase in the duty drawback but this is not expected to happen this budget.
-Sudhir Dhingra, CMD, Orient Craft

8226; I do not expect the budget to focus on textile labour reforms.
-RK Dalmia, President,Century Textiles

8226; The industry needs a reversal of the recent policy on drawback and DEPB rates. The policy announced on Jan. 18 is against high-value exports. We want this to be reversed but this is unlikely to happen this budget.
8211;Gautam Nair, MD, Matrix Clothing

PERFORMANCE SNAPSHOT

Organised sector firms increasingly investing in scale and technology.
A small production dip as quotas were used up. Duty Entitlement Passbook DEPB rates saw a cut