FM urged to extend interest subvention for another year
Tirupur Exporters' Association (TEA)on Saturday appealed to the Finance Minister P Chidambaram to bail out exporters, who were facing serious crisis, particularly due to the continuing appreciation of rupee.
By PTI |
COIMBATORE: Tirupur Exporters' Association (TEA)on Saturday appealed to the Finance Minister P Chidambaram to bail out exporters, who were facing serious crisis, particularly due to the continuing appreciation of rupee.
As rupee appreciation crisis was still continuing, exporters requested the Finance Minister to extend the interest subvention at four per cent,given to garment exporting units, for one more year,TEA president A Shaktivel said.
In a letter to Chidambaram, a copy of which was released to the press, Shaktivel said since the requests for reduction of interest rates, exemption of service tax and Fringe Benefit Tax, Refund of State Levies and taxes and refund of hedging cost were not considered in the union budget, Finance Minister should take immediate steps to help exporters overcome the crisis.
As rupee appreciation crisis was still continuing, exporters requested the Finance Minister to extend the interest subvention at four per cent,given to garment exporting units, for one more year,TEA president A Shaktivel said.
In a letter to Chidambaram, a copy of which was released to the press, Shaktivel said since the requests for reduction of interest rates, exemption of service tax and Fringe Benefit Tax, Refund of State Levies and taxes and refund of hedging cost were not considered in the union budget, Finance Minister should take immediate steps to help exporters overcome the crisis.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
