Budget 2020: Cigarettes, imported products, furniture, footwear to become costlier; EVs, newsprint, sport goods to be cheaper
A large number of items including cigarettes, chewing tobacco along with imported products, like edible oils, fans, table, footwear, electric vehicles, tableware, kitchenware, toys and furniture are set to become more expensive due to hike in taxes proposed in the Union Budget for 2020-21
Budget 2020: Govt likely to restore 2% additional duty incentive on mobile phones export; notification may be issued soon
The India Cellular and Electronics Association (ICEA) had written to the government expressing disappointment on the reduction of the incentive, saying it will lead to massive job losses.
Budget 2020: Reduce GST on bicycles to 5% from 12% to revive demand in rural markets, urges Hero Cycles
The company has also sought extension of FAME-II benefits to electric bicycles
Budget 2020: Auto component industry body seeks uniform 18% GST; demands fund to support R&D, indigenous technology development
The industry body also sought import duty exemption on auto component prototypes to encourage domestic R&D and testing.
Finance Minister Nirmala Sitharaman's first full-year Budget is expected to provide short-term stimulants to boost consumer demand, and such measures will get a positive response from markets, an American brokerage report said on Monday
Auto industry body SIAM on Monday urged the government to announce an incentive-based scrappage policy ahead of the Budget, while also seeking a reduction in GST on BS-VI vehicles to 18 percent
Budget 2020: Slash GST on auto LPG, address policy issues stalling growth, tells industry body to Nirmala Sitharaman
Leading industry body Indian Auto LPG Coalition has sought GST reduction on auto LPG as well as on conversion kits for gaseous fuels to promote the adoption of clean automotive fuels
Paint makers are seeking the Centre's move to improve consumer sentiments and boost demand in the forthcoming Union budget, instead of any consideration of further tax cut for the sector.
Budget 2020: Govt should announce steps to boost rural growth, infra to give more disposable income in aam aadmi's hands
Focused efforts towards increasing rural employment, skill development of rural youth, MSME growth, job creation, farmer productivity improvement and infrastructure development to be key areas of focus of Budget 2020 for the coming year
The Council for Leather Exports (CLE) on Tuesday said it expects the government to announce support measures in the forthcoming Budget to push exports of the labour-intensive sector
The Rs 4-lakh crore FMCG sector will close fiscal 2020 with a 9 percent growth, down 4 percentage points and a jump in rural buying will lift the same to 11 percent in fiscal 2021, a report said on Tuesday
Budget 2020 recommendations from Commerce Ministry: Restrict purchase of alcohol to 1 bottle at duty-free shops
Currently, inbound international passengers are allowed to buy two litres of alcohol and a carton of cigarettes from these shops
The government may increase customs duty on several products like paper, footwear, rubber items and toys in the forthcoming Budget with a view to promote 'Make in India' and boost manufacturing growth, sources said
Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry
Saying that liquidity is a major area of concern, All India Gem and Jewellery Domestic Council (GJC) Chairman Anantha Padmanaban said the government should take steps to ensure that banks lend to jewellers.
Consumer durable industry returns to steady growth path in 2019; economic slowdown a threat for 2020
The consumer durables sector, estimated to be around Rs 76,400 crore in FY'19, logged a growth rate of about 10 percent, largely helped by long and harsh summer, which lifted sales of compressor-based cooling products such as AC and refrigerators.
Union Budget 2020-21: Some states pitch for relaxation in fiscal deficit target to 4% to boost consumption
With tax revenue slowing in a sputtering economy, some states on Wednesday suggested Finance Minister Nirmala Sitharaman to go for fiscal expansion and relax the deficit target to 4 percent of the GDP
According to Nomura, consumer firms are expected to report average net sales growth of 8.6 percent year-on-year with EBITDA growth of 8.4 percent in the second quarter of this fiscal