Ludhiana, Feb. 2 -- The local manufacturers on Sunday hit out at the Union Budget for slashing import duty on cycles from 35% to 20%.

The announcement was made by Union finance minister Nirmala Sitharaman while announcing the budget on Saturday.

Manufacturers say the import duty cut is a blow to 'Make in India', Prime Minister Narendra Modi-led government's flagship decision.

They said the move will boost the influx of imported bicycles into the market, resulting in losses for them.

Industrialist Badish Jindal termed the decision 'unjustified' and raised concerns about 'under-billing' from China. "For a long time, we have been demanding a minimum import price on imported bicycles and their parts. Instead, the government has slashed im...