Indo Asian Fusegear Limited welcomes Union Budget 2009-10
Indo Asian Fusegear Limited welcomes Union Budget 2009-10
Tweet-- The Union Budget 2009-2010 ensures continuity of policy and resolve to fight the global slowdown. The budget along with the railway budget will contribute to infrastructure development across the country. Impetus to help the rural and farm sector will generate demand for the manufacturing sector and will lead us back to 9% growth target. The budget, which is a spending budget, will help the country to re-energies and swiftly move back to the growth trajectory. We welcome the abolition of the Fringe Benefit Tax (FBT) and the roadmap laid for the implementation of the Goods and Sales Tax (GST) by 2010.
We welcome the government extension of the scope of provisions relating to weighted deduction of 150% on expenditure incurred on in-house R & D to manufacturers like us. This will help our efforts to provide energy efficient solutions and innovate and improvise upon them.
Though the CFL manufacturers have been asking for a further cut in the central excise duty from 4% but by maintaining status quo while raising Central Excise Duty to 8% on items other than CFLs the Government has shown its intent to promote the energy efficient CFL lamps.