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02. March 2006

INDIA: Rubber industry left out

Source: Daily "The Hindu Business Line", New Delhi; 2 Mar 2006

Mumbai, March 1
The rubber industry has been left out in the Finance
Bill 2006/2007, industry representatives said.

The Budget was a big let down as far as the general
industry is concerned and the rubber industry in
particular, Mr Yogen Lathia, President All India
Rubber Industry Association, said. Commenting on the
Budget, Mr Lathia said, "The industry, reeling under
record high prices of natural rubber, has not got any
relief. The industry as a whole has not benefited much
except the nominal reduction in the customs duty." The
only silver lining for industry is the target date of
April 1, 2010 for GST (General Sales Tax).

(Syed Rashid Ali, Karachi, Pakistan)

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