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Fiscal test: As India's smaller firms struggle, Modi faces stimulus dilemma

Govt is considers spending between Rs 400 to 500 billion more this financial year than it had budgeted for

Reuters  |  New Delhi/Mumbai 

India's festive season should be a time of celebration for textiles businessman Habib Ansari, who usually spends October counting a boom in profits from supplying retailers ahead of a month of peak shopping. This year Ansari is grappling with losses, and blames a 50 percent drop in sales in the last three months of confusion wrought by the July launch of a national sales tax and the after-effects of a government crackdown on untaxed wealth. "Small garment units are not buying due to weak demand. We have cut down our workforce to 600 from 1,200," Ansari said from a ...

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First Published: Mon, October 09 2017. 21:30 IST