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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

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

Kevin Nelson
TissueGen

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

Rupa Sood and Sharan Apparao
Nayaab

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

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

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

January 2018

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
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

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
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

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
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

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
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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