;
Home / Knowledge / News / Textiles / Budget is stimulus package for all sectors - Raymond Ltd
Budget is stimulus package for all sectors - Raymond Ltd
01
Mar '08
After the Union Budget of 2008-09, Fibre2fashion contacted Mr Gautam Hari Singhania Chairman & Managing Director, Raymond Ltd, to get their comments on yesterday's budget.

The Union Budget 2008 - 2009 is a stimulus package towards social, health, employment, agriculture, education and other sectors. The measures to build social infrastructure in education and health sectors is welcome.

However, the increased expenditure and the pay commission recommendations have prevented the Minister from rationalizing the corporate tax structures.

Further Raymond Ltd had said: From the textile industry perspective, the continuation of the TUF package during the 11th plan period and increase in its allocation by 20% is a positive step. So also the approval to 30 integrated textile parks.

Other positive steps include the reduction in Central Sales Tax to 2% from 3%, reduction in CENVAT rates on all goods to 14% from 16% and custom duty reduction on project import to 5% from 7.5%.

However it fell short on measures with regard to the exports sector. Further, from the retailing perspective the continuation of service tax on rentals is a dampener.

Fibre2fashion News Desk - India


Must ReadView All

Bangladesh jute industry at risk due to old technology

Textiles | On 18th Dec 2018

Bangladesh jute industry at risk due to old technology

Bangladesh’s jute industry is losing productivity and competitiveness ...

Cotton trading pace slows down in Brazilian market

Textiles | On 18th Dec 2018

Cotton trading pace slows down in Brazilian market

With the low quality of the batches available in the Brazilian market ...

Courtesy: Destination Maternity

Apparel/Garments | On 18th Dec 2018

Destination Maternity reports sales of $92.8 mn in Q3

Destination Maternity Corporation, the world’s leading maternity...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

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

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


December 2018

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

news category


Related Categories:

Advanced Search