Web Exclusive | July 2014
Boost to purchasing power
Vayu Garware, CMD, Garware Wall Ropes Ltd
The budget has a progressive tone. The impetus on boosting manufacturing, infrastructure, inland fisheries and agriculture sectors bode well as this would aid in boosting the economy as a whole. The increase in personal tax exemption and housing loan rebate will improve the overall purchasing power. The industry was expecting some support in direct tax for exports which we hope will be taken care of in the Foreign Trade Policy.