Home / Knowledge / News / Textiles / Immediate benefits are clearly visible in budget, Future Group
Immediate benefits are clearly visible in budget, Future Group
Mar '08
Mr Kishore Biyani
Mr Kishore Biyani
Mr Kishore Biyani, CEO, Future Group gives his post-budget comments exclusively to Fibre2fashion.

If farmers and income tax payers are considered to be the two major interest-groups in the country, this budget could not have been any better.

The Government has waived off more than Rs60,000 crore in rural loans, and in addition, announced enhanced spending in the rural economy.

Back of the envelope calculations show that the income tax benefits would allow tax payers to retain around Rs30,000 crore, if not more in their pockets.

In addition there is a decrease in CENVAT, Central Sales Tax and excise duty on certain products. As a retailer, we can hope to capture some part of the additional consumption that will generate from these measures.

Our country is going through an unprecedented phase of growth and this was the time to make long-term decisions on how to sustain this rate of growth.

And surprisingly enough, this budget does little about envisioning long-term growth plan for the economy and for various industries.

While immediate benefits are clearly visible in the budget, one finds it hard to find long-term measures for new economy businesses that were gaining momentum.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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