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Small Industries feel let down

By Our Staff Reporter

Pondicherry March 1. The Union Budget has failed to address the long-standing woes of the small-scale sector, according totheAssociation of Small Industries of Union Territory of Pondicherry.

In a release today, the Association secretary, K. Parthasarathy, said inadequate bank finance and insufficient subsidy for technology up-gradation were among the "chronic problems" of the units.

Mr. Parthasarathy alleged that the agreements under World Trade Organisation did not favour the small industries and hence the Centre had to "meekly submit to such guidelines by washing its hands off the cause of the small sector."

The exclusive benefits enjoyed by small units were now at the disposal of the large units. De-reserving 108 items (exclusively earmarked in the small scale production) was proof of this, he said.

Appealing to the Pondicherry administration to lend a helping hand, he said its assistance was imperative when the Value Added Tax system came into effect.

The one laudable aspect of the budget was the reform measures in Income Tax, he said.

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