Consumer 2019

Union Budget 2019: Gems and jewellery sector seeks cut in gold import duty to 4%

On the onset of the Union Budget for 2019-20, the gems and jewellery sector has unanimously sought a reduction of gold import duty to 4 percent to check smuggling in a big way

Union Budget 2019: Consumer electronic goods makers seek lower GST on large-screen TVs, air-conditioners and refrigerators

The consumer durables industry is of the view that these items are now household necessities and do not come under the luxury goods category anymore

Budget 2019: CEAMA urges govt to hike customs duties on imported finished goods; seeks subsidy on locally made goods

Ahead of the interim budget, CEAMA has suggested to increase the basic customs duty on import of finished goods such as TV, AC, refrigerators and washing machines.

Budget 2019: Govt to spend 6.5% more on food subsidies in FY20; hike may not be adequate to cover cost of food welfare programme

The government is set to earmark about 1.8 trillion rupees ($25.28 billion) for food subsidies next fiscal year

Budget 2019: Maruti Suzuki calls for reduction in taxes on automobiles in order to create demand, develop industry

Tax on automobiles in India is higher compared to many other countries and there is a need to reduce it in order to create demand and develop the industry, Maruti Suzuki India Managing Director and Chief Executive Officer Kenichi Ayukawa said Wednesday

Budget 2019: Announce accidental insurance, concessional credit for traders, CAIT asks Narendra Modi

Traders' body CAIT on Wednesday demanded an incentive package from Prime Minister Narendra Modi for traders such as accidental insurance coverage, credit at concessional rates and rationalisation of GST slabs

Budget 2019: Levy lower tax rates on cashless transactions to encourage more people to use digital payment mode

While important steps have been taken to ensure NBFC funding is not affected, a lot more needs to be done to ensure NBFCs get back into the growth mode.

Consumer Protection Bill 2018: State machinery to take on might of traders, manufacturers if they fleece customers

The Narendra Modi government has therefore done well to junk the old Act and introduce a new Consumer Protection Bill, 2018 which received the approval of the Lok Sabha last week.

Rural households present big opportunity for consumer firms says Deloitte, FICCI report

"Rural households contribute to approximately 50 percent of the GDP, 40 percent FMCG sales, 50 percent two-wheeler sales, 30 percent four-wheeler, and 45 percent telecom contribution," Deloitte, FICCI report said.

Tokenisation of card payments can simplify and secure financial transactions, services for merchants, consumers

Tokenisation is a process aimed at increasing the security and safety of payment systems by replacing the card details with a unique alternate payment ID or code termed as a ‘token'.