Archive: July 2009
India showed a decline of 8.19 percent in U.S. dollars for textile and clothing exports, according to provisional data from the Directorate General of Commercial Intelligence and Statistics. The Indian government instituted two stimulus packages to help the sector in December 2008 and January 2009. Imports of clothing and textiles to the U.S. from the top five trade countries have gone down from January to April 2009. Only imports from Vietnam have shown an increase. лесбиянки порно видео
Five-point action plan for exports: DEA
July 29th, 2009Author : Biz2Credit Advisor
The Delhi Exporters Association (DEA) has presented a five-point action plan for the revival of exports.The plan was proposed as a reaction to specific concerns that were not addressed in the budget earlier this month. The plan targets bringing down transaction costs to make exports more competitive, Mr. S.P. Agarwal, President of the DEA, told the SME Times.
Revival of income tax concessions under 80 HHC, service tax exemptions, resolution of VAT-related issues, lowering of credit costs and upgrading infrastructure are the issues covered in the plan.
Investment-linked tax incentive scheme for farm produce cold stores and warehouses
July 28th, 2009Author : Biz2Credit Advisor
The Finance Minister announced an investment-linked tax incentive scheme for farm produce and warehouses in the Union Budget. The scheme proposes that all capital expenditure to build and operate such facilities would be fully eligible for small business tax deductions. Business expenditures on land, goodwill and financial instruments would not be eligible for the deductions, said LiveMint.com.
The proposal is aimed at reducing waste of perishables and attracting investment into the sector. The scheme was welcomed as a big boost to the cold chain and warehousing sector. Currently, small businesses are eligible for a subsidy and the Income Tax Act allows several exemptions and deductions. These, however, are not sufficient to invite investment. порно xxx
G8-G5 joint declaration resists trade protectionism
July 27th, 2009Author : Biz2Credit Advisor
The world’s wealthiest and most industrialized countries (G8) joined hands with the emerging economies (G5) to reject protectionist measures in trade and investment. The declaration will be followed by negotiations and exploration of possible modes of direct engagement within the World Trade Organization (WTO), according to the SME Times.
Besides the G8 acceding to the G5 demands for strengthening financial regulation and institutional reforms, the groups agreed to reach a balanced conclusion to the Doha Development Round by 2010.
Budget 2009: Small business tax reforms-some ups, some downs
July 25th, 2009Author : Biz2Credit Advisor
The Union Budget gives some small businesses the benefit of not paying advance taxes in the 2010-11 fiscal year.
Businesses with an annual turnover of less than Rs 40 lakh have the option to not maintain their books of accounts and pay a fixed income tax of 8 percent of their revenue, said the SME Times.
Other positive reforms include doing away with the fringe benefit tax, income tax surcharge and the commodity transaction tax, which could make raw materials cheaper for small business owners.
The introduction of an 8 percent excise duty on man-made fiber and yarn was a surprise hit to small businesses. However, there is an extension of the interest subvention for the textile industry has been extended to March 2010. массаж интим с выездом к клиенту
India-South Korea trade pact approved
July 10th, 2009Author : Biz2Credit Advisor
India and South Korea agreed upon a comprehensive economic trade agreement that will open the way for duty-free trade between the two countries. The pact is expected to be signed in August.
The pact covers six areas including trade in goods and services, trade facilitation and dispute settlement, said the Economic Times of India.
The agreement, when formalized, will open the Korean market to Indian trade and promote the interests of investors from both countries.
Railway Budget leaves passenger and freight tariffs untouched
July 9th, 2009Author : Biz2Credit Advisor
Minister for Railways Mamata Banerjee announced that under the Railway Budget 2009, freight and passenger fares will not be raised. Banerjee said passenger amenities are a priority in this year’s budget. Improvements will include expanded ticketing systems, more modern train station facilities, air conditioned cars and more. Another new initiative includes setting up medical facilities at major stations and a doctor on each train.
Entrepreneurial and Management development support scheme for MSMEs
July 8th, 2009Author : Biz2Credit Advisor
The Development Commissioner (MSME) announced a support scheme for MSMEs through incubators for entrepreneurial and management development. The main objective of the scheme is promoting technological and knowledge-based ventures to create innovative new business ideas, said the SME Times.
The Ministry of MSME, which oversees entrepreneurship and creation of employment, is heading up the initiative.
For details on the guidelines of the scheme, application form for submission of proposals,
4th Census of micro, small and medium enterprise sector to be launched
July 7th, 2009Author : Biz2Credit Advisor
How the global economic crisis affected the micro, small and medium enterprise sector has not been assessed because of the limitations of the data available, said the recently presented Economic Survey.
The 4th Census of the MSME sector is being launched to create a database to track future growth and development.
Creating an Internet information system will also help MSMEs market goods and services at a domestic and global level, according to the Economic Survey.
Economic Survey cautiously optimistic
July 6th, 2009Author : Biz2Credit Advisor
The Economic Survey, which was tabled by Parliament on the first day of the budget session, presents a cautiously optimistic outlook for the economy. The survey projects the economy could grow by up to 7 percent by Q3.
That growth depends on Parliament quickly pushing through economic reforms related to foreign investment, energy pricing and balancing the trade deficit. Financial analysts say the Indian economy may be insulated from further global downturn because banks are in a relatively strong position and inflation is under control
