UP body wants higher exemption ceiling

To encourage small-scale industries (SSIs), the Indian Industries Association (IIA), Lucknow chapter, has submitted recommendations to Finance Minister P Chidambaram.

These recommendations were part of the pre-Budget memorandum, in which the association urged the ministry to look at the important issues regarding the small scale industries.

Talking to Business Standard, IIA Executive Director S Verma said, "We have asked for an increase in the excise exemption limit for SSIs from Rs 1 crore to Rs 1.5 crore, which has been accepted by the ministry. Moreover, we also want the ceiling of Rs 4 crore for eligibility, to avail of excise exemption for SSIs, to be increased to Rs 10 crore."

Since even small scale manufacturing units have to pay excise duty, the government has given various concessions to them.