Doubt some of them had to re-engineer business, new customers, dig into their savings and borrowed from their friends and relatives find no.. Last quarter ending March 2010 the manufacturing sector in India has recorded a growth of 15%. Last 2009-10 fiscal automobile industry in India grew 25.76 percent. Passenger car production have been all time high and production vehicles crossed to million. Two wheeler segment recorded growth of 26 percent with a production of over 10 million units.
This reflects benefit to sub contracting SMEs. It is estimated the Indian economy will grow by 8% during fiscal 2009-2010. The Government has been concerned about the impact of the global financial crisis on the Indian economy and a number of steps have been taken to deal with this problem and give the stimulus package in four stages and some measures are given as follows: plan expenditure in order to provide a contra-cyclical stimulus via plan expenditure, the Government has decided for additional plan expenditure of upto RS 200 trillion in the year 2008-09. In addition, steps are being taken to ensure full utilization of funds already provided, so that the pace of expenditure is maintained. The total spending programs in the balance four months of the fiscal year, taking plan and non-plan expenditure together is expected to be Rs. 300 trillion. The economy continued to need stimulus in 2009-2010 so and this can be achieved by ensuring a substantial increase in expenditure plan as part of the budget for next year.
Measures to support exports pre and post shipment export credit for labour-intensive exports, i.e., textiles (including handlooms, carpets and handicrafts). leather, gems & jewels, marine products and SME sector which made more attractive by providing an interest subsidy of 2 percent upto 31st March 2009 subject to minimum rate of interest of 7 percent per annum. Additional funds of RS.