DISSATISFIED with Union Budget UCPMA leaders to meet PM and FM

Ludhiana, February 28, 2013: The United Cycle and Parts Manufacturers Association (UCPMA), Ludhiana president Gurmeet Singh Kular has sad they have been requesting the Manmohan Singh, Prime Minister and P. Chidambaram, Union Finance Minister to abolish central excise on complete cycle.

He said the industry pays 12.36% central excise on the raw material and other inputs which is not refunded anywhere, which makes the industry uncompetitive in international markets.

Adding, he said the central excise has been abolished on garments, which is great relief to the textile industry but the cycle industry has been totally ignored inspite of their repeated requests. This will increase the price of the cycle which will be a burden on the poor people, he believed.

“We have also requested earlier that on the pattern of textile industry bicycle / engineering industry should also been given privilege of TUF scheme in order to boost the industry with modernisation of machinery and other production facilities but no such facilities has been given in the new budget which is very discouraging for the bicycle and engineering industry”, he said.

He said the association has made a programme to meet the Prime Minister and Union Finance Minister to have some relief to the cycle industry.