for use in Corrugated Paper Boxes announced in the Assam State Budget is unprecedented & has relieved our box fraternity there.
Kudos to Team NICMA for successfully hosting the 40th FCBM Conference – ‘CorruMeet 2011’ & the concurrent exhibition ‘CorruExpo 2011’ from December 16-18, 2011 at New Delhi. The 30 member delegation from EICMA is richer from the relevant Technical Sessions, Interaction & Fellowship with delegates from across the Globe. The exhibition was inaugurated by Sri A.B. Ajmeraji; congratulations to Sri R.G. Agarwalaji on being bestowed with the “Special Achievement” Award.
The electoral process being over in the states of UP, Manipur, Goa & Punjab; the Indian Economy growing sluggishly within 7%; the crisis in the Middle East leading to increase in cost of crude oil imports; the growing Fiscal Deficit; the fall in demand of goods; the Union Budget 2012-13 was on expected lines aimed at increasing revenue on one hand & & notifying penal measures for evasion & non compliance. The increase in the cost of living has eroded the individual tax payers’ income & relief by way of increase in I.T. Exemption limits & deductions although marginal are welcome.
The Federation has been impressing on the Union Government in its Pre Budget Memorandum amongst other issues; the long standing demand of the industry for reduction of Import Duty on Paper & Board; increase in SSI Exemption limit from 1.5 to 3.0 crores on the basis of raw material cost index with the base year as 1990 & increase in Exemption Limit from Service Tax on GTA by road from Rs. 750/- & Rs. 1,500/- on individual & gross consignments respectively on the fuel cost index basis.
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