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Mr. Rajiv Thakkar
President – Exim Club |
Dear Friends,
Last quarter has been a very busy one. A series of unexpected developments in global and Indian economy has brought Indian Trade and Industry to reiook at their projections with onset of new financial year.
(A) Geopolitical un stability extending from one country to few more countries in Northern Africa, (B) Japan hit by worst catastrophic Earthquake triggering a massive Tsunami, (C) A series of Political Scam which hit the UPA Government. |
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| In consideration with the global developments Union Budget 2011-2012 presented by Finance Minister was welcomed by Trade and Industry.With a view to implement GST in 2012there are some amendments in Indirect Taxes which one need to read meticulously. Personal Income Tax exemption limit were revised which is a welcome step inconsideration with inflation. |
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| High commodity prices act as a tax on consumers in importing countries. High prices plus lower growth equals stagflation. So far the changes have had a little impact. But global monetary and fiscal tightening even across the emerging economies is a clear signal to address this issue very seriously. Trade and Industry will carefully watch RBI's measure to control inflation. |
