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Rs 6226 cr provision will boost textile exports: Irani
02 Feb '17
1 min read
Union textiles minister Smriti Irani thanked the government for Rs 6,226.5-crore provision for textiles announced by finance minister Arun Jaitley in the Union Budget 2017-18. Terming this year’s budget as ‘Budget for better India’, Irani tweeted that the provision will give a major boost to textile exports of the country and employment especially for women.
Irani took to the microblogging website Twitter to say that an outlay of Rs 1,555 crore announced in the budget for remission of state levies will greatly benefit exports in garments and made-ups segment.
She also said in one of her tweets that this is the first time when the Union Budget has provided Rs 200 crore under PM Paridhan Rojgar Yojna to boost employment in garmenting sector.
Regarding the decrease of 2.5 per cent in custom duty on nylon mono filament yarn, Irani said that it will have a positive impact on fishing net export market.
She also said that the reduction in corporate tax for MSME units with turnover of less than Rs 50 crore will benefit a large number of textile units. (KD)
Fibre2Fashion News Desk – India
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