An increase in disposable income and a rise in the steel and cement sectors have raised the hopes of officials to achieve a 7 percent growth rate in the current fiscal year. Definite figures will be projected once the impact of the stimulus packages take shape.
The stimulus packages include reduction in service tax and excise duty by two percent each. Also, the package extends the 4 percent rate reduction beyond the current fiscal to counterbalance the current economic slowdown.
SMEs are small businesses, in their early stage of growth. They exercise little or less control over markets. They, during initial years, have to struggle with cash flow management leading to squeezed reserves and labor shortages which implies high wage costs. A rise in inflation...
The auto component Manufacturers’ Association of India (ACMA) revealed that the domestic auto component industry has pegged 20% growth in the year 2009-10. Its turnover remained US$ 22 billion. The reason for such growth has been the expansion activities undertaken by SMEs ...
