Exporters disappointed with Union Budget

Exporters expressed disappointment over Union Budget's failure to address any of their major demands and said that it only had indirect support measures.

Exporters on Thursday expressed disappointment over Union Budget's failure to address any of their major demands and said that it only had indirect support measures.

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Federation of Indian Export Organisations (FIEO) said there has been no response to the exporters' appeal for continuation of exemption of export profits under section 80-HHC or weighted reduction under the erstwhile Section 35-B.

FIEO said the Finance Minister had also not announced any scheme for units in the domestic tariff area exporting 75 per cent or more of their production

Federation president M Rafique Ahmed said the levy of two per cent education cess on imports will push up prices of inputs.

He, however, welcomed exemption of handloom and powerloom from customs duty and five per cent concessional duty on capital goods available to non-leather footwear industry, which has a large export potential.

Ahmed also welcomed sharp reduction in import duty on Platinum and abolition of duty on rough coloured precious gem stones besides dereservation of 85 items from SSI list and said it will boost exports.