Survival and not profiteering: the rationale behind retention of budgetary benefits

Abstract

The retention, by Indian industry, of the benefits granted to it, in rhe 1993 Union Budget, has, once again, attracted attention. The Union Civil Supplies Minister has recently asserted that the Government would be forced to withdraw the budgetary concessions if the industry failed to live up to its expectations. (The Economic Times, 8.6.93, p 1) Assocham, the apex body representing industry interests, on the other hand, asserts that the Indian industry has passed on the benefits to the consumer.