With the Union Budget coming up in few days, Federation of Indian Export Organisations (FIEO) DG and CEO, Ajay Sahai, said that he is expecting a general increase in threshold limit for income tax payers in the country. ?Service tax and Excise duties may move in this direction for smooth transition to the GST,? In terms of the export sector, Sahai believes that interest equalization scheme, which currently covers the MSME manufacturing units and certain labour intensive sectors, should also cover merchant exporters since they play a pivotal role in export sector's expansion. Sahai further said the Credit Linked Capital Subsidy Scheme (CLCSS) has helped the small scale sector to modernize and expand their production. The DG and CEO of FIEO also lauded the government's demonetization drive, saying this will surely change the perspective of the Indian economy.

Source: dna January 26, 2017 09:58 UTC