THE BOOM OF B-99 - FMCG

Article Abstract:

The 1999-2000 budget has bestowed many benefits to the fast moving consumer goods (FMCG) segment. The budget has removed the excise duty on packaged tea. It has levied excise duty of Rs2 per kg on bulk tea. The move will prove beneficial to companies like Hindustan Lever Ltd and Tata Tea, whose packet tea sales contribute big chunk for total sales. The budget has also lowered the excise duty on malt and increased the duty on condensed milk. The margins of domestic toilet soap producers are not likely to be affected as the rise in the excise duty on toilet soaps and detergent powders is likely to be passed on to the consumers. The budget has not changed the duty rates on products like roasted chicory. (ag)(psr)

Comment:

The 1999-2000 budget has bestowed many benefits to the fast moving consumer goods (FMCG) segment.

All Other Miscellaneous Crop Farming, Field crops, except cash grains, not elsewhere classified, Tea, Tea (Plant)

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CABINET APPROVES PIO CARD SCHEME FOR VISA-FREE ENTRY

Article Abstract:

The Cabinet of the Government of India has approved the Persons of Indian Origin (PIO) card scheme. Holders of PIO card would be given equal status as that of a non-resident Indian (NRI). A PIO is a foreign citizen of Indian origin. PIO card holders would not be required to have a visa to enter India. These cards would be valid till the expiry of their passports. PIO cards give them special economic, educational, financial and cultural benefits which are now offered to NRIs. They would be allowed to acquire agricultural lands or plantations. PIOs may invest up to 40 percent in equity on repatriation basis and 100 percent in sick units. They may invest in shares/debentures of Indian companies. (um) (kvr)

International Affairs, Immigration NEC, Emigration and immigration, Immigration law

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