Sops must stay: industry ministry

The Commerce and Industry Ministry has urged the Finance Ministry to retain the stimulus package in the forthcoming budget, on the grounds that its withdrawal may “unsettle” the industry and impede the growth momentum.

The Commerce and Industry Ministry has urged the Finance Ministry to retain the stimulus package in the forthcoming budget, on the grounds that its withdrawal may “unsettle” the industry and impede the growth momentum.

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In its budget proposal, the ministry has suggested that the fiscal incentives given to the industry in 2009-10 should be continued.

The ministry has sought continuation of the 2-per cent interest subsidy to exporters and extension of export-oriented unit schemes beyond 2010-11.