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February 28, 2001                                       Feedback  

    - EXIM POLICY '00



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'The Budget is pro-agriculture and pro-industry'

Manohar Joshi

This is an outstanding Budget. People were worried that the Budget would be harsh because of the earthquake in Gujarat. But like the FM said, the poor are protected and those who can afford it are made to pay. The Budget is pro-agriculture and pro-industry.

The automotive industry is happy because duty on imported second hand cars has increased from 35 per cent to 105 per cent. This will help the domestic automotive sector.

Even duty for scooters and multi-utility vehicles has been increased to 105 per cent. This is a good check on used vehicles coming to the country.

As regards the threat of Chinese dumping, the only way to face it is to increase our competence and sell goods at competitive prices. There is also a government mechanism to stop it.

Keeping in mind that Quantitive Restrictions will be lifted in April 2001, Sinha has increased duties to the maximum limit to help agriculture and industry. Therefore when QRs are lifted, it will not have any serious effects.

The allocation for defence was increased keeping in mind the actions of Pakistan.

There is always scope for improvement in any Budget. So there can be additions and alterations. But I am really satisfied.

Manohar Joshi is Union minister for heavy industry

Budget 2001

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