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Union Budget 2017-18 will boost Direct Selling Industry: IDSA Secretary General

| Updated: Feb 03, 2017 21:39 IST

New Delhi [India], Feb. 3 (ANI): Indian Direct Selling Association's (IDSA) Secretary General, Amit Chadha lauded Finance Minister Arun Jaitley on the measures proposed in the Union Budget 2017-18 to boost the Direct Selling Industry. According to him, lowering of income tax for smaller firms and doubling the lending target under MUDRA Yojana will benefit existing and emerging player in Direct Selling Industry. "The Union Budget can be termed as growth oriented and has taken incremental measures to strengthen MSME sector. The decision to reduce tax rate for small firms with turnover up to Rs. 50crore from 30 percent to 25percent will boost the upcoming players," said Chadha. "Finance Minister Arun Jaitley, in his Budget Speech, mentioned that government's focus will be on energising youth to reap benefits of growth and employment. Also, Jaitley informed about 36 percent increase in FDI flow with robust Foreign exchange reserve availability with the government. These are great signs for the growth of Indian economy and motivating factors for the development of the Direct Selling Industry," said IDSA Chairman, Jitendra Jagota. "In the recent past, the Industry witnessed a line of positive developments, including Model Guidelines on Direct Selling by Department of Consumer Affairs, which boosted the confidence of the Industry. Thus, many foreign companies are slated to foray into the Indian market. Not only that, the current MNCs operating in the country are also expected to increase investment in the country and looking forward to set up manufacturing units in India," added Jagota. Furthermore, Chadha appreciated the Government's thrust on skilling youth and enhancing their employability potential, as well as Jaitley's announcement to set-up 'Skill-Centres' across the country, giving further push to government's 'Skill India' campaign. "Direct Selling Industry welcomes and supports the move as Direct Selling being one such Industry which imparts skill to its work-force. Direct Selling Industry is playing a vital role in empowering millions in India by transforming unskilled people to skilled work-force and the entrepreneurs of tomorrow. Direct Selling contributes to the upliftment of millions of people associated with this Industry by imparting knowledge, skill and training", added Chadha. (ANI)