Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert of India’s clothing and retail industry.
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert #
“Considering that this (Budget) is meant to be a ‘Make in India’ Budget, what is disappointing is that there are no measures for encouraging or promoting apparel manufacturing or retail. Apparel is the highest employer after agriculture, and I would have liked to see some encouragement being provided to this sector,” said Rahul Mehta, managing director, Creative Lifestyle, in a statement.
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert #
Mehta said it was a great relief to see that the finance minister maintained the status quo on the Optional Route of Excise Duty on Branded Apparel. “Any change on this would have led to a serious blow to an Industry already facing a slow down,” he said.
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert #
“It is good to see the reaffirmation of the GST coming in force from April 2016, although we still do not know the exact rates/slabs for the same,” said Mehta.
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert #
However, he added that the increase in service tax to 14 per cent will again push up the prices to a small extent. (RKS)
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert #
Fibre2fashion News Desk - India
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