Govt to unveil Rs.2,600 cr package for leather sector to boost exports
The Dollar Business Bureau The Government is likely to announce soon an incentive package of Rs.2,600 crore for the leather and footwear sector in order to boost the exports and creation of jobs in the sector, according to sources. The Expenditure Finance Committee (EFC) has already cleared the incentive package and a draft note has been sent to various ministries seeking their views, reported PTI, citing the sources. The proposal has been suggested by the Commerce Ministry, which is seeking tax incentives for the Indian Leather, Footwear and Accessories Development programme. In addition, support has been asked to increase tax incentives for generating employment in the sector. The package comprises both tax and non-tax benefits and was drafted in line with the measures announced for ...
We want withdrawal limit to be 10% of turnover: Leather Industry
Aamir H Kaki & Ahmad Shariq Khan The labour-intensive sectors are majorly affected by the demonetisation move of the government. Leather and footwear sector is among the labour-intensive sectors which is also feeling the heat of the government’s move aimed at curbing black money. Added to that, the cash withdrawal limit of Rs.50,000 a week is not seen by many as a suitable threshold that could facilitate their day-to-day operations, including the worker’s payments. Rajiv Wasan, General Secretary, Agra Footwear Manufacturers and Exporters Chambers (AFMEC) spoke to The Dollar Business on the concerns about the demonetisation and their association’s demand for increasing the cash withdrawal limit for leather products exporters as well as manufacturers. He informed that the AFMEC has sent a letter to the ...
