Garments traders observe bandh against tax
Hyderabad, March 7 (INN): Protesting against the proposed 10 per cent excise duty on readymade garments in the Union Budget 2011-12, manufacturers of hosiery and readymade garments industries observed a day's token bandh in the old city.
AP Hosiery Association president Mirza Yousuf said that more than 150 'readymade garments' shops in old city areas remained closed because of 'bandh' call given by the 'AP Hosiery Association' against the proposed 10 per cent excise duty by Union Finance Minister Pranab Mukherjee in the Union Budget 2011-12.
The Association president pointed out that when Union former finance minister Yashwant Sinha had moved a similar proposal during the NDA rule, Congress president Sonia Gandhi had requested the then government to withdraw the proposal to levy excise duty on readymade garments.
Mr Yousuf stated that while the first term of the UPA regime had not taxed the garment manufacturers, the proposal to levy 10 per cent excise duty had shaken the Hosiery Manufacturers. This had prompted them to give a bandh call to press the Centre to roll back the proposal.
'When NDA was in power, Ms Sonia Gandhi had requested then Finance Minister Yashwant Sinha not to levy excise duty on readymade and branded garments. But the proposal in the 2011-12 budget presented by Union Finance Minister Pranab Mukherjee has upset us most. Therefore the AP Hosiery had given a bandh call on March 4 and had appealed to us to make it a success. This is the reason why the garments shops have remained shut today,'' informed Mirza Yousuf.
In addition to this, Mr Yousuf said that efforts to boost cotton farming in the country have been ignored. He also demanded that the government must ban export of cotton.
News Posted: 7 March, 2011
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