A R Mundra, Executive Director – Finance, Bombay Rayon Fashion Ltd , while speaking to Fibre2fashion regarding the Union Budget 2008-09 said that the increased subsidy under Textile TUF will offer good support to the industry. He added, "Reduction in duty on poly yarn has been welcomed. Project import duty has been cut to 7% from 7.5%, which is also a good sign."
He said that keeping the Corporate level tax intact was a positive move.
However he finally stressed, "We were expecting some more relief for export, which has not yet been done. This will affect the already struggling trade in the industry."
Fibre2fashion news desk - India
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