October 14, 2010 8:26 PM

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Govt asked to stop fiscal sops on second hand imported technology

The domestic textile manufacturers have urged the government to stop fiscal sops on second hand imported technology. In a pre-budget memorandum submitted to the Textile Ministry, the Textile Machinery Manufacturers' Association (TMMA) said, the imports of second hand or used loom and cheap looms, particularly from China, are the greatest hurdles for indigenous development. It said the Planning Commission has also observed that no subsidy should be allowed for import of any second hand capital goods.

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