Industry for higher exemption limit

Chopra observed that the small scale industrial sector was fulfilling the socio-economic needs of the country by providing more employment and bigger exports, in addition to contributing to the national exchequer by way of taxes and duties.

The federation charged that the recommendations of the said committee on withdrawal of exemption scheme were influenced by the lobbying of the vested interests, the federation pleaded that to safeguard the interests of the SSI sector, the exemption limit should be raised to at least Rs. 75 lakh as against the prevailing level of Rs. 50 lakh.