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Polymers: New duty structure to bring in fund

July 11, 2014 19:38 IST

ReutersBudget provisions

The following announcements have been proposed in the Union budget 2014-15

Industry Expectations –Partially fulfilled

Budget impact

Union Budget 2014-15 has reduced basic customs duty (BCD) on certain items to boost domestic manufacture and to address the issue of inverted duties. This would encourage new investment and capacity addition in the chemicals and petrochemicals sector. The duty reduction in feedstock would strengthen the domestic polymer manufacturing in India making it more competitive leading to surge in exports of finished goods

Stocks to watch

Supreme Industries, Jain irrigation, Sintex Industries, Time Technoplast

Outlook

Union Budget 2014-15 has reduced basic customs duty (BCD) on certain raw material to manufacture polymer/plastic products items will boost domestic manufacturing and to address the issue of inverted duties. This would encourage new investment and capacity addition in the chemicals and petrochemicals sector. The duty reduction in feedstock would strengthen the domestic manufacturing in India making it more competitive leading to surge in exports of finished goods.

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