PRESS NOTE

Ludhiana -28.02.2013



United Cycle & Parts Manufacturers Association has strength of more than 2500 members of MSME units and is considered to be the largest body of single trade. The association has been requesting the Sh. Manmohan Singh, Honb'le Prime Minister of India and Sh. P. Chidambaram, Honb'le Finance Minister of India to abolish central excise on complete cycle and this industry pays 12.36% central excise on the raw material & other inputs which is not refunded any where this makes us uncompetitive in international markets but to our astonished, 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 our repeated requests. This will increase the price of the cycle which will be a burden on the poor man.



We have also requested earlier that like textile industry bicycle / engineering industry should also been given privilege of TUF scheme in order to boost the industry with modernization of machinery and other production facilities but no such facilities has been given in the new budget which is very discouraging for the bicycle & engineering industry.



The association has made a program to meet the Honb'le Prime Minister of India and Honb'le Finance Minister to have some relief to the cycle industry before the final approval of the finance budget 2013-14.


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