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Budget not at all pro-textiles - Armstrong Kintting Mills
29 Feb '08
1 min read
Union Finance Minister P Chidambaram, today announced the budget for the financial year 2008-09. Fibre2fashion took the initiative of interviewing textile related enterprises in a bid to know their expectation.
Mr E. Palamisamy, Chairman of Armstrong Kintting Mills expressed disappontment at the budget, “The announcement was not at all beneficial to the industry."
He explained, "It has only supported the agricultural sector. Since prices of cotton have increased, yarn and fabrics are likely to show a similar trend, indirectly affecting the textile industry. It is only hoped that in the years to come Government gives equal importance to textile segment as well.”
Mr E. Palamisamy, Chairman of Armstrong Kintting Mills expressed disappontment at the budget, “The announcement was not at all beneficial to the industry."
He explained, "It has only supported the agricultural sector. Since prices of cotton have increased, yarn and fabrics are likely to show a similar trend, indirectly affecting the textile industry. It is only hoped that in the years to come Government gives equal importance to textile segment as well.”
Fibre2fashion, News Desk - India
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