Business & Policy | News & Insights

Hosiery Budget Reactions – 2024

Published: February 5, 2024
Author: TEXTILE VALUE CHAIN

Mr Vinod Kumar Gupta, Managing Director, Dollar Industries Limited

“We applaud the government’s vision to shape India into a Vikasit Bharat by 2047. As a responsible corporate entity, we are dedicated to contributing to this transformative path for the nation’s prosperity. The decision to maintain the existing income tax slabs is a positive step, offering stability and predictability for taxpayers, crucial for sustaining economic growth and promoting individual financial planning. We express gratitude for the government’s commitment to retaining the current tax rates for companies, LLPs, and individuals. The India-Middle East-Europe Economic Corridor opens unprecedented opportunities for businesses to broaden their horizons and participate in cross-border trade. The corridor’s focus on connectivity and infrastructure development resonates with the logistical and supply chain requirements of industries such as textiles. We acknowledge the government’s proactive and all-encompassing approach in the interim budget. We eagerly anticipate contributing to the shared journey toward a more robust, inclusive, and sustainable India. In this interim budget, the government has suggested a capital expenditure (Capex) of 11.11 lakh Crores, aiming to enhance the purchasing capacity of each individual”, 

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