Union Budget 2016-17 will help in reviving Export Sector – A. Sakthivel, Regional Chairman, FIEO Southern Region - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Friday, March 04, 2016

Union Budget 2016-17 will help in reviving Export Sector – A. Sakthivel, Regional Chairman, FIEO Southern Region

Union Budget will help in reviving Export Sector – Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region



While  welcoming the broad thrust of  Budget which realizes the issues faced by the exporters in the global markets Dr. A. Sakthivel, FIEO Regional Chairman said that emphasis on rail and road by increased investment along with better port connectivity will help  in increasing export and reducing transaction cost.



Initiatives towards Ease on Doing Business, focusing MSME  as well as facility of deferred payment of custom duty etc. will help exporters in reducing their transaction cost.  Changes in custom duty on certain inputs and steps for  improving  competitiveness of industry in sectors like information technology, hardware, capital goods, defense purchases, textiles, chemicals, paper etc. are expected to arrest the downward trend in exports.



He also expressed his happiness on more allocation of Skill Development Fund.  Dr. Sakthivel also complimented Finance Minister for allocating Rs.3350 crores  for  Textile Industry which includes Rs.1480 crores for amended TUF and Rs.300 crore for development of mega clusters.



However Dr. Sakthivel expressed his concern on the proposal of excise duty on branded readymade garments and made up, articles of textiles, etc. with the retail sale price of more than Rs.1000.  This will adversely affect the industry and also difficult to administer, Dr. Sakthivel added.



Dr. Saktivel also complimented Government for giving focus  on agriculture especially development of infrastructure from “Farm to Fork” which will help the country to reduce wastage of fruits and vegetables which is highest amongst the world.

 The contribution of 8.33%  by the Government for all new employees enrolling EPF for the first three years of their employment will go a long way in creating more jobs and  incentivize MSME to recruit more employees Dr. Sakthivel added.

Federation of Indian Export Organisations
Southern Region
Spencer Plaza, Unit No.706, 7th Floor,769, Anna Salai,
Chennai - 600 002
Phone: +91-44-28497766, 28497755, Fax: +91-44-28496666
Email: fieosr@fieo.org                                              Website:http://www.fieo.org


Union Budget 2016-17 will help in reviving Export Sector – A. Sakthivel, Regional Chairman, FIEO Southern Region Reviewed by S. Chitra on March 04, 2016 Rating: 5 Union Budget will help in reviving Export Sector – Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region While  welcoming the b...

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