New Delhi: Government wants Rs 80,000 crore to charge up the petrochemicals sector. It also wants to bring in the big boys like Dow, Dupont and Sabic, so it is further deregulating the sector and throwing in a slew of tax incentives.
According to the Petrochem Policy, an investment of Rs 80,000 crore is needed in the petrochemicals sector by 2010-11.
It also mentions that excise duties need to be rationalised. The policy plans to lower excise duties on polymers and plastics.
The policy also states that the duty on capital goods will be treated at par with feedstock and the Government would review import duty on naphtha.
It further mentions that Central Sales Tax will be phased out and the Government will also set up mega chemical industrial estates.
The mega chemical industrial estates will have a public or private partnership and they will be modeled on the basis of SEZs.
Comments
0 comment