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Pre-budget memorandum-I: Big pitch made for indigenous manufacturing
Jan 20: This is the time for pre-budget memorandums
8A thick indirect tax memorandum has been submitted to the finance ministry by an industry body recently
8Some of the provisions have implications for the oil and gas sector, particularly those aimed at encouraging domestic production of capital goods in the oil and gas and related industries
8A costing analysis seems to show that due to the incidence of local taxes & duties, domestic manufacturers face a 12% to 26% cost disadvantage. This needs mitigating steps, the memorandum says
8There is also an elaborate proposal for leveraging energy imports from Gulf Countries through oil-for-capital projects barter deals in these countries. This can provide a big boost to Indian EPC and project contractors active in the Gulf
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