Cheaper Branded Cloths to boost Textile Market in India

With the cut in the excise tax on branded clothes in the union budget, the impact would high on the textile market.

In the branded cloths segments, the market players are sure going to catch occasion of benefit from the government as cut in the excise duty.

Leading branded fmcg companies would sale their products, cloths at cheaper price by around 10 to 15 per cent.

This would be a good opportunity for the customers those like have branded cloths at a good discount rate. This is also going to boom the online sales of fmcg goods like clothes on online through e-commerce websites.

In this fiscal year, you can get more discounts on branded cloths comparing to the last fiscal year, thanks to budget blues.

The online sale of the fmcg goods could further move the fmcg sector to higher level in next few business years. 

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Impact of Excise Hike on Car Sales

Impact of the hike of two per cent excise duty on cars was clear visible as the sale of passenger cars witnessed rise of 3.4 per cent in April 2012 comparing the figures of April 2011.

1,68,351 units of cars were sold in April this year comparing 1,62,813 units sold in the April 2011. The car cars rose by 5538 unit in last decade (3.4 per cent). According to the figures released by the Society of Indian Automobile Manufacturers (Siam) on Thursday.

The hike in the excise duty in the budget and the interest rate hike by the apex bank could be the major reason hitting the car sales as experts believe. The hike in car prices due to hike in excise also weigh high on the car sales this year.

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FM rolls back excise duty on gold jewellery

Business News: Jewellers in India have been opposing the levy of excise duty on branded or unbranded gold jewellery, now they have some reason to smile with the Finance Minister declaring roll back today.

budgetary proposal of levying excise duty on gold items has been rolled back by the government of India. The impact would be positive in the market; this could boost the gold import into India.

The jewellers were went on 21 days strike opposing the excise tax on branded or unbranded gold items. The withdraw will be with effect from March 17.

The Finance Minister has also declared to differ the the general anti-avoidance rules (GAAR)by one year. Markets rebound from the loss to gain following the GAAR clarification from the government. The sensational index -BSE Sensex closed at 16913 with 82 points up and the Nifty closed up 27 points at at 5114.

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