Home / Knowledge / News / Textiles / 'Too much stimulus not good for health' – Finance Secretary
'Too much stimulus not good for health' – Finance Secretary
07
Jan '10
Mr Ashok Chawla
Mr Ashok Chawla
Speaking at a FICCI organised textile seminar, the Union Finance Secretary, Mr Ashok Chawla said that, considering the revival in export orders to developed economies and data pointing to a pick up in exports, the government is unlikely to offer an extension of the stimulus packages to the textile industry.

On a lighter note he said, “Too much of stimulus when the body is getting healthy may not be a good thing and which can be injurious to health, however government may consider tax incentives for garment machinery and extending the present easy bank lending rates.”, when announcing the budget on the last day of February.

He was referring to industry demand for more stimulus measures which include, that the current regime of soft loans to textile firms should continue and government should provide an additional Rs 45 billion from the budget for the Technology Up-gradation Fund Scheme (TUFs).

The Textile Minister too was optimistic of the future of the textile industry and said available statistics indicated that until November, production of cloth was up 10.8 percent, while man-made fibre output rose 21.43 percent and yarn 11.8 percent and that apparel exports may have grown 5 percent during April-December, from a year earlier.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search