Tsunami Exemption – Trade endorses Amma’s call
For some strange reason, maybe more political than economic, the relief items for Tsunami victims were not exempted from excise duty as is usually done in such calamties. Former US President Bill Clinton recently remarked that there was absolutely no shortage in aid. May be the donors don’t need excise relief. Recently Tamil Nadu CM Ms. Jayalaithaa had requested the Central Government to exempt industries in the Tsunami hit districts from excise duty for the next ten years. This has naturally found favour with the Tamil Nadu Chamber of Commerce and Industry. They cite the precedent of Kutch. But the moot question is, will it find favour with another famous Tamilian – the Finance Minister?