Budget fail to please major employment generating sector - Morarjee Textile

03 Mar '08

1 min read

Textile industry does not seem to be happy with the Union Budget 2008-09 and Morarjee Textile has decided not to stand alone. Mr Pramod Gothi, Managing Director of Morarjee Textile informed Fibre2fashion, “We are not content with the budget”.

Mr Pramod further stated that, “It is a purely populist budget and nothing substantial has been done for the textile industry. Although, the Government is talking about non-agro growth, the budget will not in anyways help for such an endeavor. The industry that generates second largest employment for the country has been nearly avoided and nothing has been done for the development of its employees.

Expressing concern, Mr Gothi said, “Negligence of vital issue of employment by the Government will lead to unprecedented problems in the textile industry.”

The company at least expected some relief for exporters but even that had not been pronounced in the budget. Mr Gothi reiterated saying, “The industry is highly dissatisfied with the decisions taken for this financial year, as the budget is not even serving return to their investments.

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