PD Sharma writes to FM: Demands withdrawal of excise on bicycle
Author(s): City Air NewsApex Chamber of Commerce and Industry (Punjab) president PD Sharma. Ludhiana, February 18, 2014: The Apex Chamber of Commerce and Industry (Punjab) president PD Sharma has written to P Chidambaram, Union Finance...
cityairnews
Feb 18, 2014 12:30
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Apex Chamber of Commerce and Industry (Punjab) president PD Sharma.
Ludhiana, February 18, 2014: The Apex Chamber of Commerce and Industry (Punjab) president PD Sharma has written to P Chidambaram, Union Finance Minister, regarding waiving of excise duty on bicycles.
He has stated that “You (FM) has taken pains to present interim budget. This has many good features but it is also lacking in some others.
You have reduced excise duty on automobiles in order to boost the economy. Anyhow one very crucial point has slipped from your mind. There is excise duty on bicycle & this vehicle is meant for the poor section of the society. Moreover cycle riding needs encouragements of sorts.
The poor man can no doubt be facilitated by the reduced price of bicycle with the waiving of excise duty. In the interest of economy other section of societies need & encouragements to ride bicycle for the following reasons:
• It will reduce the consumption of petrol & diesel. Our economy is suffering due to severe imbalance between imports & exports. You have imposed severe conditions to discourage imports of gold but gold is coming in the country through smuggling. Thus to achieve one object we are giving birth to another evil.
• Cycle riding is good for health today people have great health problems. By encouraging cycle riding this menace can be reduced drastically.
• Our country is suffering due to increasing level of pollution. Cycle riding helps reduce this menace.
• Much of labour force falls in the poor category. With cheaper cycle there mobility will be improved. This will go to encourage production.”
At the end, Sharma urged the Union Finance Minister to withdraw excise on bicycle & instead announce some incentive to encourage bicycle riding.//ludhiana news online, ludhiana news in English, ludhiana news, ludhiana current news, ludhiana news live, ludhiana cycle industry news, ludhiana bicycle industry news, Ludhiana breaking news, Ludhiana headlines, Ludhiana latest news, punjab news, india news, punjab news live, punjab news online, punjab news, punjab news headlines, punjab breaking news, india news, punjab news,
