Traders hope for tax reforms in budget

With general budget proposals for fiscal 2012-13 to be announced next week, diamond and textile traders in Gujarat have asked the government to slash central excise duty and an increase in the tax limit. Traders in Surat, the hub of India's diamond trading and polishing works, are also hoping for policy changes in the upcoming budget. The budget is being viewed with great interest by the big guns of Indian business too, who see it as a means to bring out the Indian economy from the tight spot that it is in currently.