Abolish import duty on cement inputs: Binani Group
Below is the wish-list of Vinod Juneja, managing director (MD), Braj Binani Group for upcoming budget: He said cement is an important raw commodity / input for the infrastructure & real estate sector. In cement sector import duty on inputs is higher than its finished goods which include high import duty on Coal, Petcoke and Gypsum which are major inputs for Cement.
He expects reduction or complete abolishment in the present import duty on input cost. The budget should also include some special schemes for boosting exports, which is the need of the hour. India`s exports could witness a significant improvement in coming years if the government adopts proactive measures, he said. He is also hoping for some reduction in the railway freight and more wagons to be added in this year.
He also expects the finance minister to target the GDP growth of at least 8 per cent or higher for the next 3 financial years. On tax reforms front, he said he would be very happy to see the reduction in individual income tax levels as it leaves the consumer with more spending power hence builds consumption leading to higher economy growth. Also he expects reduction in the corporate tax rates.
Published under Cement News
