Home / Knowledge / News / Textiles / Stimulus measures to some sectors may be retained
Stimulus measures to some sectors may be retained
10
Feb '10
Commerce and Industry Minister Anand Sharma said that, the Finance Ministry may contemplate withdrawal of stimulus to certain exporting units which have depicted vigorous growth, but a comprehensive “abrupt” removal is not desirable.

He was speaking at a FICCI function, while answering to the query as to whether the Budget contains any provision with regards to withdrawal of stimulus.

With constricting exports since October 2008, the government had extended specific concessions like interest subsidy and higher duty refunds to aid the exporters.

Prospects for ending the stimulus are being debated, as exports experienced a positive spin after 13 months, since November 2009 and also the manufacturing has become vigorous with an approximate growth of 8.9 percent for the financial year.

Planning Commission Deputy Chairman Montek Singh Ahluwalia while partaking in the discussion remarked that the stimulus measures have worked and now they should start phasing it out. He also held that the fiscal deficit in the next year will decrease in comparison to this year.

FIEO President A Sakthivel said that the sectors which have performed exceptionally well can be pulled out of the stimulus assistance so as to advance focused assistance to the sectors depicting waning or average growth.

Sharma said that though the exports have revived, the resurgence is not consistent. Sectors like engineering, leather and textile are still facing rough weather in the western markets. He also added that they are not in favour of immediate pull out of the stimulus packages.

During April to December last year India's exports declined to $117.58 billion from $147.56 billion, which is a plunge of 20.3 percent.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd Mar 2017

UK's National Living Wage to be £7.50 from April 2017

The National Living Wage in the UK for workers aged 25 and above is...

Textiles | On 23rd Mar 2017

Trutzschler launches Toyota-Truetzschler comber machine

Trutzschler, one of the world's leading textile machinery...

Jeff Bezos (L) and Amancio Ortega. Courtesy: Forbes

Apparel/Garments | On 23rd Mar 2017

Amazon founder Jeff Bezos is world's 3rd richest man

The biggest gainer and the third richest man on the Forbes' 31st...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

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

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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:
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