Home / Knowledge / News / Budget continues to spur growth, Mr Chandrasekhar
Budget continues to spur growth, Mr Chandrasekhar
29
Feb '08
Mr. Rajeev Chandrasekhar
Mr. Rajeev Chandrasekhar
FICCI President, Mr. Rajeev Chandrasekhar said that this is a balanced budget that has taken care of both the growth of the economy and the political compulsions of out time.

He added, “I am convinced that the budget will continue to spur growth and FICCI hopes that the Prime Minister's statement at FICCI's 80th AGM that 9% growth is achievable holds true.”

FICCI had recommended that for the common men and women of the country the income tax exemption limit be enhanced from Rs. 1.1 lakh to Rs. 1.5 lakh.

The Finance Minister has announced this and this will now give more purchasing power into the hands of people and boost consumption.

Industry had also requested that the government take measures to address the cascading affect of the Dividend Distribution Tax. In the budget, the Finance Minister has taken up this matter and the issue has been partially addressed.

FICCI hopes that as we go ahead further modifications will be made to completely waive the cascading affect of DDT on multi-layered corporates.

The Finance Minster's major step in promoting hospitals and the healthcare sector in tier 2 and tier 3 cities of the country is also a very positive move.

FICCI had urged the government to give a boost to the healthcare sector and now hopes that a further push will be given by granting 'infrastructure status' to the healthcare sector.

One of the major problems being faced by industry is the severe skill shortage across sectors and at all levels. In this context FICCI feels that the Finance Ministers announcement of setting up a non-profit corporation for promoting skill development with an outlay of Rs 15, 000 crores is a fresh, new idea whose time had come.

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search