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Dec 25, 2008

SIEMA Welcomes Duty Cut

The Southern India Engineering Manufacturers’ Association has welcomed the stimulus measures announced by the Union Government recently. In a release, its president Jayakumar Ramdass said the incentives would help ease the current critical situation faced by the industries. The reduction in Excise Duty to four per cent from eight per cent for all types of water lifting pumps would benefit the consumers as the end product prices would also come down. This would help the industry improve the business.

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