The budget will come as an economic vaccine for the pandemic-battered economy and steer India with the much-needed stimulus to boost demand, consumer confidence and at the same time boost the purchasing power of the people, the Indian Chamber of Commerce (ICC) said.
Sops for textiles to weave a global success story
February 02, 2021
Mega Investment Textiles Parks scheme will enable competitiveness
The textiles and apparel sector has the potential to be a global champion. While the government has come out with sporadic policy measures to promote the sector, Budget 2021-22 has outlined some major direct and indirect sops that are expected to create an enabling ecosystem that could help the sector scale-up significantly.
Union Finance Minister Nirmala Sitharaman said a Mega Investment Textiles Parks (MITRA) scheme will be launched to create world class infrastructure with plug-and-play facilities. Seven Mega Textile Parks will be established in three years. This is in addition to the PLI scheme announced 2-3 months ago.
No Fiscal Penny-Pinching; Policy Corroboration, Focus On Healthcare And Infrastructure â Budget 2021 Hits The Right Notes
by Aashish Chandorkar - Feb 1, 2021 03:01 PM
Union Finance Minister Nirmala Sitharaman
Snapshot
Budget 2021 sets the direction for an Atmanirbhar Bharat â focus on human capital and physical infrastructure.
Indian Union Budgets have largely become an event to check for negative surprises in the last few years â the broader policy making happens round the year and is no longer dependent on the Budget day.
In a tough year when the world battled a once in a lifetime pandemic and continued uncertainty ahead on geopolitical as well as economic front, the budget expectations were largely negative.
Budget 2021: Mobile Manufacturing Gets A Make In India Push forbesindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbesindia.com Daily Mail and Mail on Sunday newspapers.
Budget 2021: Customs duty hike to make ACs, mobile phones, spandex expensive but gold, silver, nylon get cheaper
Air conditioners and refrigerators could get expensive by 2.5 percent in the short term because the customs duty on its key component compressors has been hiked to 15 percent. February 02, 2021 / 10:35 AM IST
Duty on shrimp feed in increased to 15% from 5%. Customs duty on cotton raised to 10% from nil. The new Customs Duty structure will be put in place by October 1, 2021.
Imported products such as compressors for refrigerators and air conditioners (ACs), raw silk, spandex fibre, LED lamps, solar lanterns, mobile phones and power banks are set to cost more as Finance Minister Nirmala Sitharaman proposed an increase in the customs duty on a range of items in her Budget 2021 speech.