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LUDHIANA: The Union Budget has clicked with businessmen for sparing them any Covid cess or similar new tax they feared. Halving the time limit for reopening income-tax assessment cases to three years from six, besides the changed custom duties, makes Punjab’s engineering sector hopeful of getting cheaper iron and steel.
The textile and garments sector had a mixed response after the customs duty was increased on cotton but lowered on certain other products. Chamber of Industrial and Commercial Undertakings president Upkar Singh Ahuja said: “By waiving the import duty on scrap and cutting the import duty on certain steels by 5%, finance minister Nirmala Sitharaman impressed thousands of Punjab engineering goods manufacturers. For the past few months, expensive raw material was hurting the bicycle, automobile part, fastener, sewing machine, and furnace industries. The price correction will lead to revival.” ....

Nirmala Sitharaman , Upkar Singh Ahuja , Ludhiana Fasteners Suppliers Association , Union Budget , Commercial Undertakings , Fasteners Suppliers Association , Raj Kumar Singla , உப்பிகார் சிங் அஹுஜா , லூதியானா ஃபாஸ்டென்சர்கள் சப்ளையர்கள் சங்கம் , தொழிற்சங்கம் பட்ஜெட் , ஃபாஸ்டென்சர்கள் சப்ளையர்கள் சங்கம் , ராஜ் குமார் சிங்லா ,