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The Indian textiles and clothing industry has broadly welcomed the Union Budget 2021-22 presented by finance minister Nirmala Sitharaman in Parliament on February 1. Setting up of 7 mega textiles parks under MITRA, and reducing duty on nylon raw materials are welcomed by all trade bodies, while there is a mixed reaction to 10 per cent import duty on cotton. The grant to the textiles and clothing sector in Union Budget 2021-22 is ₹3,614.64 crore, which is about 10 per cent higher than the revised budget of ₹3,300 crore in 2020-21. The budget also puts emphasis on Infrastructure Devel...

Union Budget 2021: FM Sitharaman proposes agri cess on petrol, diesel ANI | Updated: Feb 01, 2021 14:44 IST New Delhi [India], February 1 (ANI): Union Finance Minister Nirmala Sitharaman has announced the imposition of Agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel. However, there would be no additional burden on the consumer overall as Sitharaman during Budget presentation also proposed to reduce Basic Customs Duty on these items. "I propose an Agriculture Infrastructure and Development ...

Synopsis The FM announced that there will be a reduction in Customs duty uniformly to 7.5% on semis, flat, and long products of non-alloy, alloy, and stainless steels. Budget 2021: 10 key takeaways from FM Sitharaman’s announcements for MSME sector Presenting the Budget 2021, Finance Minister Nirmala Sitharaman proposed to review more than 400 old exemptions in customs this year. The government is to put into place a new customs duty structure by Oct-1, 2021, Sitharaman announced today . Besides rationalising customs duty on Gold and Silver, the FM announced withdrawing exemptions on some...

DNA Explainer: Why agri cess on petrol, diesel will not affect common man Union Finance Minister Nirmala Sitharaman on Monday (February 1) proposed agri cess of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel. Share Updated: Feb 1, 2021, 02:07 PM IST In a significant development, Union Finance Minister Nirmala Sitharaman on Monday (February 1) proposed agri cess of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel. Sitharaman made the announcement while presenting Union Budget 2021-22 in Lok Sabha. "I propose an Agriculture Infrastructure and Development Cess (AIDC) on a small ...

Shares of state-run oil marketing companies were off day's high after the Finance Minister proposed an Agricultural Infrastructure and Development Cess on petrol and diesel. Indian Oil Corporation rose 1.66% to Rs 94.85. The stock hit high of Rs 96.50 in intraday trade. Bharat Petroleum Corporation rose 0.7% to Rs 386.55 after hitting high of Rs 398 in intraday trade. Hindustan Petroleum Corporation fell 0.55% to Rs 217.50 after hitting high of Rs 222.35 in intraday trade. Finance Minister Nirmala Sitharaman's Union Budget 2021 proposed an Agricultural Infrastructure and Development Cess (...