Refuelling of consumption demand must be theme of budget: PHDCCI suggests to Sitharaman ANI | Updated: Dec 19, 2020 21:47 IST
New Delhi [India], December 19 (ANI): Industry body PHD Chamber of Commerce and Industry (PHDCCI) on Saturday suggested a 10-pronged strategy to Union Finance MinisterNirmala Sitharaman during the pre-budget consultations.
The PHDCCI stated that refuelling of consumption demand must be the theme of the Union Budget for the fiscal year 2021-22 to have a multiplier effect on production possibilities, capex expansion, private investments and employment creation.
PHDCCI s 10-pronged strategy includes refueling consumption and demand, encouraging the private investments, front-loading of infrastructure investments, establishing Development Finance Institutions (DFIs) to fund industrial and infrastructural investments, strengthening Micro Small and Medium Enterprises (MSMEs), reducing the costs of doing business, ease of do
Enhanced consumption expenditure will ramp up capex: PHDCCI bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
Economic Affairs Secretary Tarun Bajaj on Friday assured investors that the pace of reforms would continue in the coming months, including in the upcoming Budget. Talking about the state of the economy, he said the central bank has indicated a slight positive growth both in the third and fourth quarters of the current financial year. The Indian economy had contracted by an unprecedented 23.9 per cent during the first quarter of this fiscal due to the impact of the coronavirus pandemic. However, the pace of contraction narrowed in the second quarter to 7.5 per cent. On revenue mobilisation, Bajaj said the advance taxes numbers have also been better than what we had anticipated, and now the shortfall of total revenue that we have has actually come down as compared to the second quarter.or as compared to September 15 when the second advance taxes had come.
DHI in close coordination with stakeholders to roll out PLI Scheme for auto sector: Secretary
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Last Updated: Dec 18, 2020, 04:55 PM IST
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Synopsis We are now in close coordination with the stakeholders to work out the details and hopefully it will be seeing the light of the day in the final shape very soon, Secretary in the Heavy Industries Ministry Arun Goel said at a CII Summit. The Department of Heavy Industries frames and implements policies for the auto sector.
Reuters We are now in close coordination with the stakeholders to work out the details and hopefully it will be seeing the light of the day in the final shape very soon, Goel said.
Appliances, consumer electronics companies seek silver lining in 2021; pin hopes on new launches
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Last Updated: Dec 17, 2020, 01:02 PM IST
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Leading brands witnessed rapid increase in digital consumption, changes in demands where more consumers are seeking value propositions with a comfortable, convenient, and connected experience to support a changed lifestyle amid the coronavirus pandemic.
New Delhi: The appliances and consumer electronics industry, which lost around 25 per cent of annual sales in the COVID-19-hit 2020, expects to regain the lost ground next year through a special focus on digital initiatives, emerging trends, change in consumer behaviour as well as the impetus to ramp up domestic manufacturing activities.