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Soft loans for growth in the Budget
February, 22nd 2010

What are your expectations from the Budget?

We have a wish list which we keep giving to the government. On the shipping side, the main thing is we require soft loans for growth. You cannot borrow at the rates today and look at growing the Indian tonnage. That is not going to happen and we are looking at some release from service tax, withholding tax on ECBs.

These are the three four concerns which we represent through our body and port side, we would require large amount of investments coming to the port sector. We would require external commercial borrowing and that we have a withholding tax on the interest payment which we would prefer to have it re-looked. This will give a lot of fill up in the infrastructure which we have been investing quite a lot in next two to three years.

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