Indian Direct Selling Association’s Reaction on the Budget 2011- by Mr Yoginder Singh, Chairman & Ms Chavi Hemanth, Secretary General New Delhi, 28th Feb’11 The Union Budget 2011 is an even handed budget to sustain the growth pattern of the nation’s economy. The signals that appeared in the budget speech were more important than the proposal themselves. The ground work for the future has been laid by the finance minister in targeting the growth rate at 9%. As this is already set as an agenda the policy initiatives will align in the right direction. Mr Yoginder Singh, Chairman, IDSA said that the budget can be termed as growth oriented and has taken incremental measures to boost investment into housing, infrastructure and social sector. Further he stated that the reduction on surcharge of domestic companies to 5% from 7.5% will boost the growth of indigenous corporate but will only partially reduce the tax burden of the corporates. The Union Budget 2011-12, has indicated the growth in Indian Economy by 8.6% and is expected to increase by 9% in 2012. However on allowing foreign investors to invest in equity funds will be very positive for India’s Capital market as it will open up a big opportunity for the global citizens to participate in emerging markets and take advantage of the India growth story. When asked to Ms. Chavi Hemanth, Secretary General, IDSA she highlighted towards the few major points from the Budget 2011: Finance Minister announced the steps to roll out GST and the measures to be taken to remove bottlenecks in the supply chain distribution which should help in curtailing the food inflation. Ideally GST should have gone to action mode. Allocation for education increased by 24%, ` 21,000 Crore allocated for Sarv Shikshya Abhiyan registering an increase of 40% is a worthy attempt by the Finance Minister to press accelerator towards the drive to increase literacy rate in India. The rallying point is whether the allocated amount is used judiciously in the pursuit of goals set for fortifying the scale and quality of primary education. She further stated Infrastructure remains a vital sector for India’s growth story. Allocation of ` 2,14,000 Crore for infrastructure in 2011-12 which is an increase of 23.3 per cent over 2010-11 is a right initiative as it will reinforce the industry. In addition, the proposal of tax free bonds of ` 30,000 Crore for the enhancement of infrastructure in railways, ports, housing, and highways will boost the infrastructure development. However being a representative of Direct Selling sector which is a women oriented sector, I am delighted with the initiative undertaken towards the development of ‘Women’s SHG’s Development Fund” with a corpus of ` 500 Crore. Summing it up we can say that the Budget 2011 seems to have a mixed reaction to most. The sensex has reacted positively to the budget moving up to 400 points. The new budget has brought a smile to the rural class and youth of this nation and we look forward for the implementation of GST, DTC and various other schemes proposed like skill development. About IDSA The Indian Direct Selling Association (IDSA) is an autonomous, self-regulatory body for the direct selling industry in India. The Association acts as an interface between the industry and policymaking bodies of the Government facilitating the cause of direct selling industry in India. Incorporated in 1996 and headquartered in Delhi, IDSA strives to create and further an environment conducive to the growth of direct selling industry in India, partnering industry and government alike through advisory and consultative activities. IDSA catalyses change by working closely with government on policy issues, enhancing efficiency and ushering in desired credibility, clarity & confidence in Direct Selling. Since its inception the Association has grown to several members representing over 3 million independent salespeople in India and still counting. IDSA’s member companies are leading Indian and International Organizations engaged in the business of direct selling in India. The association is also associated with the World Federation of Direct Selling Associations (WFDSA), a non-governmental, voluntary organization globally representing the direct selling industry as a federation of national Direct Selling Associations. The IDSA and WFDSA table annual plans to take steps so that an environment that supports direct selling emerges and the independent entrepreneurs can create fulfilling careers in direct selling just like in over 150 nations of the world. IDSA has currently 18 members representing both domestic and global companies of repute that include: • 4 Life Trading India Pvt, Mumbai, www.india.4life.com • Altos Enterprises Ltd, Ludhiana, www.altosindia.net • AMC Cookware (India) Pvt. Ltd, Bangalore, www.amc.info • Amway India Enterprises Pvt. Ltd, Noida, www.amway.com • Avon Beauty Products India Pvt. Ltd, Gurgaon, www.avonindia.in • CNI Enterprises (India) Pvt. Ltd, Bangalore, www.cni-india.com • Daehsan Trading (India) Pvt. Ltd, Delhi, www.daeshanindia.com • Elken International India Pvt. Ltd, Bangalore www.elken.com.my • Forever Living Products (India) Pvt. Ltd, Mumbai, www.foreverliving.com • Herbalife International India Pvt .Ltd, Bangalore, www.herbalife.com • Hindustan Unilever Network, Mumbai, www.huln.co.in • Jafra Ruchi Cosmetics India Pvt Ltd, Delhi, www.jafra.net.in • K-Link Healthcare (India) Pvt. Ltd,Chennai, www.klinkindia.in • Mary Kay Cosmetics Pvt. Ltd, Gurgaon, www.marykay.co.in • Max New York Life Insurance Co. Ltd, Gurgaon, www.maxnewyorklife.com • Modicare Ltd, Delhi, www.modicare.com • Oriflame India Pvt. Ltd, Delhi www.oriflame.co.in • Tupperware India Pvt. Ltd, Gurgaon www.tupperwareindia.com For further information, you may contact: info@idsa.co.in or Kulpreet Kaur, 9811132212, kulpreet@impactpr.in Hanit Kaur, 9310333593, hanit@impactpr.in Impact Public Relations Pvt. Ltd.