Pre Budget expectations - Mr. Kamlesh Patel, CMD, Asian Granito India Ltd

The ceramic industry is facing double whammy of a slowdown in domestic demand and cheap imports from China. We expect finance minister to announce remedial measures which can foster growth in the infrastructure and real estate sector.

GST should be implemented as early as possible. Also affordable housing and infrastructure sectors should be levied at a lower slab in GST at 12% to achieve government target of construction of 60 million homes under government initiative of Housing for All.

In addition we expect government to lower the corporate income tax to 28% in the upcoming budget and lowering it further to 25% in coming years as promised by FM.

To boost exports, we want finance minister to introduce incentives for exports or exempt profit from exports as provisions earlier. Further to safe guard domestic ceramic industry we demand to reinstate anti dumping duty.

For the success MAKE IN INDIA, Government should support and promote domestic ceramic companies by baring Chinese export to very minimal usage.

Government should give special thrust in the budget to rural economy, social sector schemes and infrastructure in addition to increasing basic exemption limit for individual tax payers to Rs. 5 lakh to further boost the domestic growth story.

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.271 as compared to the previous close of Rs. 274. The total number of shares traded during the day was 288521 in over 3273 trades.

The stock hit an intraday high of Rs. 283 and intraday low of 271. The net turnover during the day was Rs. 80489998.

Source : Equity Bulls

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