Home / Knowledge / News / Textiles / Finance Minister Pranab Mukherjee unveils Union Budget 2009-10
Finance Minister Pranab Mukherjee unveils Union Budget 2009-10
06
Jul '09
Today, the Finance Minister of India, Pranab Mukherjee will announce the Union Budget for 2009-10 in Parliament.

Fibre2fashion brings you each and every budget updates and details related to the textile and apparel industry.

Following are the highlights of the entire Budget Speech:

- UPA's victory is a mandate for inclusive growth

- Budget might not really be the Dream Budget

- Strong rise in flow of foreign capital, despite economic slowdown

- Govt plans to bring back economy to high GDP growth rate

- Budget to be a 'more participatory' exercise

- Economic crisis: The worst is behind us

- More stimulus packages are needed

- Fiscal deficit grow from 2.7 - 6.8% of GDP

- Sops for exporters

- Loan for farmers Rs 3,00,000 at 7% per annum

- Export Credit Guarantee scheme extended till March-2010

- Govt to set-up expert group to advise on petro pricing products

- Allocation for market development assistance scheme enhanced

- Rs 1 lakh crore projects for Infrastructure revival

- Extension of stimulus package for print media

- Extension of interest subvension scheme extended up to March 2010 to cover sectors like handicrafts and handlooms

- JNNURM support to create 12 mn job a year

- Income-tax return forms to be made more user-friendly

- Saral Form II to be reintroduced

- Modernisation of national exployment exchanges to be carried out

-Eight national missions are being launched for Under National Action Plan on climate change

- Budget expenditure crosses Rs 10 LAKH crore for the 1st time

- Crop loan at 6 pc interest for farmers

- New direct tax code to be released in 45 days

- No change in Corporate Tax

- Fringe benefit tax abolished

- Surcharges on income tax phased out

- To introduce GST by April 1, 2010

- 4% excise duty on cotton products restored

- increase in the duty on MMF from 4 to 8%

- Customs duty on gold and silver import increased

- Some law services brought under service tax

- Excise duty on fibre for cheaper cloth reduced

- Full exemption from excise duty on branded jewellery

- To set up handloom mega cluster in Raj, TN, WB

- New mega clusters for carpets to be also set up in Srinagar (J&K) and Mirzapur (UP)

- List of specified raw materials and equipment imported by manufacturer-exporters of leather goods, textile products and footwear industry which are fully exempt from customs duty, subject to specified conditions, to be expanded

- Footwear of RSP exceeding Rs.250 but not exceeding Rs.750 per pair

Fibre2fashion News Desk - India


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Top executives
Textile & apparel bodies

The decision is transformational

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Lynda Kelly
Suominen Corporation

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Jay Ramrakhiani
Occasions Elegance Wear

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

Wendell Rodricks
Wendell Rodricks

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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