Home / Knowledge / News / Textiles / Union Budget 2017 is a game changer: Walmart India
Union Budget 2017 is a game changer: Walmart India
01
Feb '17
Union Budget 2017 is a game changer and continues to rightly focus on rural, agriculture and infrastructure sectors that will give boost to formal economy, says Walmart India. The planned investment in these sectors will create much needed jobs and also spur consumer spending and boost economic growth. Fiscal deficit too has been contained very well.

“The continued focus on ease of doing business with several measures such as abolishing FIPB, ‘Model law on contract farming’, Simplification of labour laws under four areas – wages, industrial relations, social security and welfare and safety – augurs very well for the economy,” said Krish Iyer, president & CEO of Walmart India, in email to Fibre2Fashion.

Major income tax relief in the lowest bracket is laudable as it will bring back consumer confidence and boost domestic consumption, adds Iyer.

Commending the measures announced to boost the manufacturing sector, he says, “Rewarding MSMEs by reducing rate of income tax will further boost ‘Make in India’; Proposal to set up dairy processing fund will boost food processing while increased allocation to schemes such as MSIPS will boost the electronics sector. Rural sector gets a boost with increased allocation to MNREGA.”

The agenda for the year to ‘transform, energise and clean India’ is noteworthy, according to Iyer. He also lauds government’s commitment to lift one crore people out of poverty by 2019. “Government’s steps to promote digital economy post demonetisation are very logical and will boost formal economy.”

“Overall, this is a very good budget. Adherence to fiscal discipline, with emphasis on growth, development, increasing infrastructural and rural spending, and encouraging formal economy are key aspects of the budget,” Iyer concludes. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Trump announces tariffs on $200 bn worth Chinese imports

Apparel/Garments | On 18th Sep 2018

Trump announces tariffs on $200 bn worth Chinese imports

US President Donald Trump escalated the trade war with China on...

Courtesy: Sunrise Bumi Textiles

Textiles | On 18th Sep 2018

Sunrise Bumi developing new products for profitability

Sunrise Bumi Textiles, one of the world's leading quality yarn...

New Zealand bans sheep mulesing

Textiles | On 18th Sep 2018

New Zealand bans sheep mulesing

New Zealand has banned the practice of mulseing sheep, making the...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Urmil Arya,

Urmil Arya

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

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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


September 2018

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

news category


Related Categories:

Advanced Search