Home / Knowledge / News / Textiles / Budget fail to fulfill expectations - Sangam India Limited
Budget fail to fulfill expectations - Sangam India Limited
29
Feb '08
Mr L L Soni, Associate Vice President of Sangam India Limited told Fibre2fashion regarding the Union Budget 2008-09.

As per Mr L L Soni,"The Budget has not at all met the expectation of Industry. There are no deductions in export duties, excise duties which were actually needed and expected by textile Industry.

Secondly talking about the allocation of funds to TUF Scheme it is just 200 crores where industry expectations are 700 to 800 crores.

Mr L L Soni, further stated, “The present budget is not at par with expectation of industries. It has not address any of following issues.”
• Interest subvention continuation after March
• Labour law reform
• TUF Scheme it is just 200 crores where industry expectations were 700 to 800 crores. In this regard, the allocation is very minimal, it had backlog of 9 months.
• Nothing has been done to release the CENVAT credit which is unutilized.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search