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Thursday, Feb 28, 2008
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 Industry & Economy - Budget
Reduce duty on manmade fibres


The duty structures of cotton and manmade fibres (PSF & VSF) should be brought on par or the duty on manmade fibres should be reduced by at least 4%. Duty on new textile machinery should be reduced to encourage upgradation.

Ceiling of Rs 1 lakh per annum for rebates is very low considering today’s earnings, savings and more, insurance penetration levels. May be there could be a Rs 1 lakh slab each for short term - (premium investments for 10 years) and for long term - (premium investments of more than 10 years). This will encourage insurance investments for longer durations, which is the actual intention of life insurance investments.

V.M. Ramkumaar, Chennai

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