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Chamber News
VARANASI BRANCH
Exporters Unhappy with Budget for
Not Providing Relief
The Varanasi Branch organized a programme to watch
“Live telecast on Union Budget 2011” in collaboration
with Ramnagar Industrial Association, Varanasi on 28
February 2011. The idea was to give an opportunity to
the members to express their immediate reaction to the
merits and shortcomings of the Union Budget, 2011.
IACC-Varanasi Chairman C.A. Mukul Kumar Shah
welcomed the participants and guests. Ahsan Khan and
Arun Kumar Agrawal, Vice Chairmen, IACC-Varanasi,
Debashis Mukherjee, Past Chairman, IACC-Varanasi
were present on the occasion. R.K. Chaudhary, President,
Ramnagar Industrial Association, Varanasi participated
along with other members of his Association.
Participants of the programme watched the proceedings
with expectations of a special package to be announced
for exporters. They rated the budgetary announcements
as 'just O.K. but certainly below expectations.'
Exporters were disappointed to note that the Finance
Minister did not mention the word “exporter” even once
in his long narration. Debashis Mukherjee said that the
Finance Minister has totally ignored long standing
demand of exporters to waive off VAT on raw materials
used by them. The issue of improvement in infrastructure
also failed to get attention in the Budget.
Mukul Kumar Shah said the Finance Minister has
provided no measures to control inflation. Relaxation of
Rs. 20,000/- in the tax slab is nothing but peanuts to
pacify the public. The Budget lacks in substance and
should be rated as a pretty ordinary. But, of course, it has
given a good thrust to the agriculture sector, he added.
Vice Chairman Arun Kumar Agrawal reacted by saying
that the Budget has not suggested any radical changes to
encourage the export community. However, reduction of
import duty on silk yarn from 30 percent to 5.0 percents
shall work like oxygen to the dying looms that produce
Banarasi silk sarees.
R.K. Chaudhary said the Finance Minister has done
nothing for any section of society. The issue of price rise
and black money deposited in foreign banks has not
been mentioned. Surprisingly no concrete measures
have been proposed to curb corruption Moreover, there
is nothing for small and/or medium sector industries.
Mukul Kumar Shah thanked the participants and media
for their active participation in the programme.
R-L : CA Mukul Kumar Shah, Chairman, Arum Kumar Agrawal,
2nd Vice Chairman ; Ahsan Khan, 1st Vice Chairman -
Varanasi Branch, IACC
R-L : Ahsan Khan, Vice Chairman, Varanasi Branch; Debashis
Mukerjee, Past Chairman, Varanasi Branch
INDO-US BUSINESS May-June 2011 65