Budget Countdown Expectations : ... 17 days to go

[K.Karthik Raja]

Budget Countdown: ... 17 days to go

Finance Minister P. Chidambaram will present the Union Budget for
2008-09 (Apr-Mar) on Feb 29. A daily update on the country's
expectations of the Budget, cutting across industry sectors and the
financial markets...
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STEEL SECTOR
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R.K. SHARMA, PRESIDENT, FEDERATION OF INDIAN MINERAL INDUSTRIES
"We essentially have two expectations from Budget 2008. One is
withdrawal of export duty on iron ore to make it a level playing field
for both miners and the steel industry. Our other wish is complete
removal of import duty on steel to make available cheap steel for
Indians."

J. SARMA, INTERIM STEEL SECRETARY, GOVERNMENT OF INDIA
"High steel prices are a concern. But we understand that
steelmakers are also incurring rising costs. So to address this issue,
we have recommended import duty cuts for metallurgical coal and scrap
metal (from the current 5% on both). We have also demanded an ad
valorem (value-based) export duty on iron ore to discourage exports
further."
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N.C. MATHUR, DIRECTOR, CORPORATE AFFAIRS, JINDAL STAINLESS
"We have made two wishes from this year's Budget. One is that the
import duties on all the three nickel products and steel scrap should
be made zero. The other is that the import duty on cold-rolled steel
should be doubled to 10% to avoid dumping of products from other
countries."
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S E C T O R S C O V E R E D E A R L I E R:
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AGRICULTURE
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M.S. SWAMINATHAN, FORMER CHAIRMAN, NATIONAL FARMERS' COMMISSION
* Loan waiver for very poor farmers, in areas with high suicide rates
* Creation of a price stabilisation fund
* Reduction in farm loan rates to 4%
* Increase in crop loan recovery cycle to 4-5 years.
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D.K. JOSHI, SENIOR ECONOMIST, CRISIL LTD.
* Focus on increasing farm productivity
* Higher allocations to irrigation and farm research sectors.
* Schemes for employment generation and skill upgrade.
.
U.S. AWASTHI, MANAGING DIRECTOR, INDIAN FARMERS FERTILISER COOPERATIVE
LTD.
* Higher fertiliser subsidy
* Cess to fund fertiliser subsidy burden.
.
R.G. AGARWAL, CHAIRMAN, CROP CARE FEDERATION OF INDIA
* Cut in excise duty on pesticide
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B.V. MEHTA, EXECUTIVE DIRECTOR, THE SOLVENT EXTRACTORS' ASSOCIATION OF
INDIA
* Treat edible oils and oilseeds on par with essential commodities for
VAT.
* VAT on oilseeds should be reduced to zero or 1%.
.
S.L. JAIN, DIRECTOR GENERAL, INDIAN SUGAR MANUFACTURERS' ASSOCIATION
* Reduction in excise duty on molasses.
.
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AUTOMOTIVE
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DILIP CHENOY, DIRECTOR GENERAL, SOCIETY OF INDIAN AUTOMOBILE
MANUFACTURERS
* Uniform 16% excise duty across all automobile segments.
* Measures to reduce interest rates.
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PAWAN GOENKA, PRESIDENT, AUTOMOTIVE SECTOR, MAHINDRA & MAHINDRA LTD.
* Uniform 16% excise duty across all automobile segments.
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H.S. GOINDI, SENIOR VICE-PRESIDENT, TVS MOTOR CO.
* Cut excise on two-wheelers to 8%.
* Measures to improve retail credit availability.
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RAVI PISHARODY, VP, SALES & MARKETING, COMMERCIAL VEHICLES, TATA
MOTORS
* Cut in excise duty on commercial passenger vehicles.
* Duty reduction in goods carriers.
* Measures to reduction interest rates.
.
L.D. MITTAL, CHAIRMAN, SONALIKA GROUP
* Govt loans to farmers to buy tractors.
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NEERAJ KANWAR, JOINT MANAGING DIRECTOR, APOLLO TYRES
* Correction of anomaly between import duty of 20% on natural rubber
and 10% on tyres.
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OIL & GAS
=========
M.S. SRINIVASAN, SECRETARY, MINISTRY OF PETROLEUM & NATURAL GAS
* 'Declared goods' status for natural gas, liquefied natural gas, bio-
fuels
* Waiver of customs duty on LNG imports.
* Reduction of ad valorem excise duty on petrol, diesel to nil
* Exemption from service tax on exploration and exploitation activity
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S.V. NARASIMHAN, DIRECTOR-FINANCE, INDIAN OIL CORP. LTD.
* Some solution to reduce impact of crude price surge on marketing
companies
* Cut in customs duty on crude imports, excise duty on petroleum
products
* Infrastructure status for oil product pipelines
* Rationalisation in corporate taxes
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R.K. GOEL, DIRECTOR FINANCE, GAIL (INDIA) LTD.
* Waiver of customs duty on liquefied natural gas import for all
sectors
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OM NARAYAN, MANAGING DIRECTOR, INDRAPRASTHA GAS LTD.

* Infrastructure status for city gas distribution pipeline for tax
relief
* No value-added tax on piped natural gas
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T.K. ANANTH KUMAR, DIRECTOR FINANCE, OIL INDIA LTD.
* Exemption from levy of service tax on exploration, production
activity
* Cut in some corporate taxes--at least the surcharge on oil, gas
industry