Reduction in tax
November 30, 2009 9:10 am
The Indian manufacturing industry passed through a lean phase in the past few months as recessionary pressures made investors hesitant to invest funds and compelled customers to put their purchases on hold, which resulted in low industrial output. A reduction in tax worth Rs 40,000 crore has played a pivotal role in reviving the economy. The growth in industrial output will encourage the government to introduce more such stimulus packages.
The activities in the Indian manufacturing industry are surging at a phenomenal rate. During September 2009, the industry managed to recover from its 5-month dip in August on the back of high domestic demand and robust factory orders.
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