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Man-made textiles sector finds passing on excise hike tough
Published July 7, 2009, 11:42 am, Business Standard India
Reliance, Indorama Synthetics, Grasim among others to be impacted. The hike in the excise duty from 4 per cent to 8 per cent on man-made fibre and yarn, and on several other inputs for synthetic textiles, may push the industry’s back against the wall.
Budget in 2 minutes
Published July 7, 2009, 6:38 am, Business Standard India
Personal income tax exemption limit has been increased for small and marginal taxpayers and senior citizens. The personal income tax exemption limit for senior citizens has gone up by Rs15,000, from Rs 2.25 lakh to Rs 2.40 lakh.
Alok Ind to raise polyester yarn prices - official
Published July 7, 2009, 3:59 am, Reuters via Yahoo! Asia News
MUMBAI, July 7 (Reuters) - Textile maker Alok Industries Ltd will raise prices of its polyester yarn products by about 2 rupees a kg from Tuesday after the federal government raised the excise duty on yarn on Monday.
Textiles: Cotton yarn producers to gain
Published July 7, 2009, 12:39 am, rediff.com
The reintroduction of 4 per cent optional excise duty for cotton textile products is welcoming sign.
Textile modernisation gets a TUF push
Published July 6, 2009, 9:55 pm, rediff.com
In order to modernise the Indian textile industry, the finance minister has increased the allocation to the Technology Upgradation Fund Scheme (TUFS) by 188 per cent to Rs 3,140 crore (Rs 31.40 billion) for 2009-10 as against Rs 1,090 crore (Rs 10.90 billion) for the corresponding period last year.
Union Budget 2009-10: India Inc gains from Cenvat status quo
Published July 6, 2009, 5:06 pm, The Economic Times
FM has left Cenvat duty unchanged at 8%, thereby continuing the stimulus for a still-weak industry while also giving some indication of the rates in the goods and services tax regime.
Textile players feel let down
Published July 6, 2009, 2:54 pm, Express India
The Budget has disappointed the textile sector. The sector, while reacting to the Budget has said that the sector will not see inclusive growth because the government has not announced any stimulus package nor has increased the duty drawback rates from the prevalent 8%.
Textile industry feels disappointed
Published July 6, 2009, 12:08 pm, The Hindu
Ahmedabad, July 6 The textile industry received this Budget with mixed feelings. Mr Sunil Khandelwal, Chief Financial Officer, Alok Industries Ltd , summed it up “It is positive that they have not introduced anything negative, and so I would call it a neutral Budget,” while Mr S.K. Gupta of Raymond Ltd said they needed more time to study it properly.
Key features of Union Budget 2009-2010
Published July 6, 2009, 7:29 am, Express India
Finance Minister Pranab Mukherjee on Monday presented the Union Budget. Following are the highlights.
PRESS RELEASE: Fitch: India Budget Proposals
Published July 6, 2009, 6:53 am, Nasdaq
Fitch Ratings-New Delhi/Singapore-06 July 2009: Fitch Ratings says today that India's FY10 budget proposals are long-term positive for the oil and gas sector, provided they are implemented earnestly.
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