TRADE AND BUDGET Effort at a better balance between opening of external trade and internal reforms

Budget 2005-06: new trade policy paradigms clearly emerging for SMEs

Posted: Wednesday, Mar 09, 2005 at 0000 hrs IST
Updated: Wednesday, Mar 09, 2005 at 0000 hrs IST

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: burden with WTO compatibility. However, it would take quite some time to put the process of Vat in place in all states and realise its stated objectives. The transition period is going to be tough and trying for industry, as well as trade. Therefore, while the Budget decisively takes the industry towards a regime characterised by further opening of external trade, at both regional and multilateral fronts, it also seems to be conscious of the need to push complementary internal reforms. Therein lies the balancing act of this Budget.

The writer is secretary-general, Federation of Indian Micro and Small & Medium Enterprises (FISME)...

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Budget 2005-06: new trade policy paradigms clearly emerging for SMEs

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