by TEXTILE VALUE CHAIN | Feb 9, 2024 | Finance & Economy, News & Insights
The textile sector is expressing concerns over a new clause recently introduced in the Income Tax Act by Finance Minister Nirmala Sitharaman. This clause, which is a part of the interim Budget for the 2024-25 fiscal year, mandates prompt payment for goods supplied by...
by TEXTILE VALUE CHAIN | Apr 11, 2022 | Finance & Economy, News & Insights
This is the first full review meeting after presentation of Budget 2022-23. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. Finance Minister Nirmala Sitharaman is scheduled to meet heads of public...
by Manali bhanushali | Feb 4, 2021 | Finance & Economy, News & Insights
Budget 2021: Instances have come to the notice where some employees are contributing huge amounts to these funds and entire interest is exempt from tax. Finance Minister Nirmala Sitharaman, while presenting the Budget 2021, has proposed taxability of interest on...
by Manali bhanushali | Feb 3, 2021 | Industry View, Textile Articles
OVERVIEW: There is a good news for renewal and enhanced global competitiveness of India’s textile and clothing industry which has been in doldrums since 3rd quarter of 2019 and,for further devastated by Covid for entire of 2020. It is thus in...
by Manali bhanushali | Feb 3, 2021 | Industry And Cluster, Market Reports, News & Insights
Budget 2021: In order to benefit farmers and promote domestic manufacturing, the government has also raised customs duty on cotton from nil to 10 per cent and on raw silk and silk yarn from 10 per cent to 15 per cent. The Indian Government is all set to give...
by TEXTILE VALUE CHAIN | Nov 26, 2020 | Industry And Cluster, News & Insights
When the headwinds to growth have exacerbated now, the reforms momentum has continued and will continue in the future as well, according to minister of finance and corporate affairs Nirmala Sitharaman, who recently told the National MNCs Conference 2020 that measures...
by TEXTILE VALUE CHAIN | May 22, 2020 | Covid 19, Finance & Economy, Industry And Cluster, News & Insights
CMAI welcomes the measures announced by Smt. Nirmala Sitharaman, Hon. Finance Minister, especially those connected with the Government’s support to the MSME Sector – on which she focused on today. The enhancing of the upper limits of the sector, the merging of the...
by TEXTILE VALUE CHAIN | Sep 20, 2019 | Industry And Cluster, News & Insights
The Hon’ble Finance & Corporate Affairs Minister, Smt. Nirmala Sitharaman, today made a major announcement by slashing the Corporate Tax on existing companies to 22% and new companies to 15%, in a Press Conference from Goa. Shri T. Rajkumar, Chairman, CITI...
by TEXTILE VALUE CHAIN | Aug 26, 2019 | Industry And Cluster, News & Insights
FM Sitharaman said reform is a continuous process for the government and it tops the agenda. Clearing the air around slowing economy, Finance Minister Nirmala Sitharaman today said despite weak global demand, Indian economy was growing faster than the global average...
by TEXTILE VALUE CHAIN | Jul 30, 2019 | Industry And Cluster, News & Insights
Mega handloom cluster is taken up under Comprehensive Handloom Development Scheme as announced by the Union Finance Minister in the respective budget with the financial provision. At present, there is no proposal for inclusion of Balaramapuram in Thiruvananthapuram...
by TEXTILE VALUE CHAIN | Jun 7, 2019 | Industry And Cluster, News & Insights
The Reserve Bank of India is unlikely to announce special sectoral exceptions in its new circular on stressed assets, contrary to demands of power, sugar, shipping and textile industries. The banking regulator may also seek resolution plans for stressed assets to be...
by TEXTILE VALUE CHAIN | Jun 7, 2019 | Industry And Cluster, News & Insights
The two Cabinet committees have been constituted to address the twin problems of sluggish economic growth and rising unemployment To address the twin problems of sluggish economic growth and rising unemployment, the government has constituted two Cabinet committees to...
