CII backs call for sharing burden

By Our Special Correspondent

NEW DELHI, JAN. 31. The Confederation of Indian Industry (CII) today pledged its support to the Prime Minister's call for sharing the earthquake burden and said the pressure on the Government's finances was inevitable.

A CII press release said that anticipating no exigency due to natural calamities or otherwise this year, the organisation had recommended in its pre-Budget memorandum that the 10 per cent surcharge be removed in view of buoyancy in revenue. But, now, the CII felt that the additional one per cent surcharge imposed help mitigate losses arising due to natural disasters and calamities may have to be increased.

Meanwhile, the Federation of Indian Chambers of Commerce and Industry has made Vadodara the coordinating point for relief work and has joined hands with the Federation of Gujarat Industries to provide for a coordinated approach.

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