Home / Knowledge / News / Textiles / 'Union Budget is progressive & growth-oriented' – SRTEPC Chairman
'Union Budget is progressive & growth-oriented' – SRTEPC Chairman
06
Jul '09
The Union Budget for 2009-10 is progressive, growth-oriented and in the right direction,” said Shri Ganesh Kumar Gupta, Chairman of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).

The Budget has exempted Service tax on “Commission paid to foreign agents” and “Transport of goods through road,” which according to Shri Gupta is a big relief for the exporters.

He also welcomed the decision to abolish the Fringe Benefit Tax (FBT) on business tours abroad, which he said was one of the long-standing demands of the exporting community.

Other initiatives, such as the extension of the interest rate subvention of 2% on pre-shipment credit from September 30, 2009 to March 31, 2010 and the extension of the adjustment assistance scheme to provide enhanced ECGC cover at 95% up to March 31, 2010 would provide the necessary relief to the exporters, who are badly hit by the global slowdown.

On the increase in the allocation for Market Development Assistance Scheme to Rs. 124 crore, the Chairman of SRTEPC said: “Although this is a welcome step, the amount is grossly inadequate considering the requirements.”

The Synthetic & Rayon Textiles Export Promotion Council

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search