Zintax Ltd.is engaged in thebusiness of export of leather shoes. In thepast, theperformance of thecompany had been upto the expectations. In line with the latest demand in the market, the company decided to venture into sports goods and snickers for which it required specialised machinery. Forthis, theFinance Manager Ritesh prepared a financial blueprint of the organisation's future operations to estimate the amount of funds required and the timings with the objective to ensure that enough funds are available at right time. he also collected the relevant data about the profit estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources of the business, For the remaining funds, he is trying to find out alternative sources from outside. ldentify the financial concept discussed in the above paragraph. Also, state the objectives to be achieved by the use of financial concept so identified.
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The domestic leather industry has rued the proposal to impose a sharp export duty cut on raw leather and hide from 60 per cent to 40 per cent in the Union Budget 2019 tabled in Parliament last week. Fifteen per cent export duty on EI (Eastern India) tanned leather was also abolished on July 5. At present, the share of these items is not big in the leather export basket, but an increase in their export after budget incentives is expected to create a supply crunch.
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