Home / Knowledge / News / Textiles / TexMin proposes budget allocation of Rs 80 billion for textile sector
TexMin proposes budget allocation of Rs 80 billion for textile sector
01
Feb '11
The Textiles Ministry recently revealed that, it would urge the government to raise the budgetary allocation for the sector under the 2011-12 budget to Rs 80 billion, so as to enable the Ministry to achieve the target set for development of the sector.

In the current fiscal year's budget, the government had allocated Rs 56.08 billion for the sector as a whole, of which Rs 47.25 billion were towards planned expenditure, while Rs 8.8308 billion were meant for non-planned expenditure.

The Ministry in response to the question as to how much budgetary provision does it seek under the forthcoming 2011-12 budget said that, it is eyeing to get around Rs 70 to 80 billion, and added that, such allocation would help the sector to achieve the growth targets fixed for development across diverse fibre chains.

But then, the Ministry even stated that, in spite of their demands the final allocation would be decided by the government, it being an allocation to assist the development of various Ministries.

The Ministry stated that, with higher allocation they propose to establish more mega clusters.

Further that, a one-time grant of two billion rupees was proposed by the government for the Tamil Nadu government under the current fiscal year's budget. The grant was intended for setting up of a zero liquid discharge plant at Tirupur, so as to enable sustenance of the domestic knitwear industry.

Also to note that, the Finance Ministry too had extended the existing two percent interest subsidy made available to the small and medium enterprises (SME) sectors for export of items like carpets, handicrafts, handlooms, further for one year till March 31, 2011.

The Textile Ministry, under the extensive skill development programme, proposes to impart training to three million people, over the next five years.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Textiles | On 20th Jul 2017

Ethiopia seeks Indian investment in textile industry

Ethiopia, one of the fastest growing countries of Africa, is seeking...

Textiles | On 20th Jul 2017

Afghan govt calls for plans to revive textile industry

The Government of Afghanistan has asked industrialists to present...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X