INDIAN FOOD SECTOR SPLIT ON GOVERNMENT BUDGET REFORMS
July 5th, 2014
India’s new BJP government has reduced taxes on food processing and packaging machineries however the industry is still not happy and is demanding more significant benefits. “To incentivise expansion of processing capacity, excise duty on specified food processing and packaging machinery has been reduced from 10 percent to six percent,” finance minister Arun Jaitley said in his Budget speech on Thursday. Characterising the move as rather insignificant, Piruz Khambatta, chairman of Confederation of Indian Industry’s (CII) national committee on food ...
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