ICC decries withdrawal of fiscal incentives in NE | kolkata | Hindustan Times
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ICC decries withdrawal of fiscal incentives in NE

ICC has decried withdrawal of fiscal incentives given to the north eastern states under North East Industrial and Investment Policy 2007.

kolkata Updated: May 09, 2008 17:56 IST

The Indian Chamber of Commerce (ICC) on Friday decried withdrawal of fiscal incentives given to the north eastern states under North East Industrial and Investment Policy 2007.

A statement issued by ICC said the quantum of excise duty exemption had been drastically curtailed by the Centre through a notification dated March 27, 2008.

The chamber said this act would not only deprive the industries, but would also give wrong signals to potential investors.

ICC added that there was a requirement for need-based fair policy which would address the objective of attracting investments in the north east region.

The chamber has urged the Centre to withdraw the notification with immediate effect.