Home / Knowledge / News / Textiles / TUFS extension to generate more employment, Tibrewal

TUFS extension to generate more employment, Tibrewal

Feb '07
Manoj Kumar Tibrewal, MD
Manoj Kumar Tibrewal, Managing Director, Gangotri Textile Ltd gives his post-budget comments exclusively to Fibre2fashion.

Positive Points

Good budget for the textile sector and very happy to note that TUFS has been extended for further 5 years.

Very encouraging decision that Rs425 crores allotted for textile parks. By this, more employment opportunities would be generated and the people in rural areas will be highly benefited. Revenue to the government will also increase.

All the business class as well as consumers will be benefited by 1 percent cut in Central Sales Tax.

Service tax: Small service providers exempt up to Rs8 lakh. Customs duty on Polyester to be reduced from 10 to 7.5 percent. This is also beneficial for the textile sector.

Enhancing employment for physically handicapped by way of reimbursing employer share of EPF payment

Negative Points

Service tax extended for collection of rent for the commercial premises let out for rent. This will be major set back as most of the middle class businessmen and industrialist running their business on rental premises and this will reduce their profitability.

We were expecting that the Income tax slab for individuals will be enhanced as there is a steep hike in cost of living which has not been considered.

Excise duty on Synthetic Fibre and Textile Machinery – not reduced.

Increase in Dividend Tax – Retrogative step to help corporation of India – Dividend Tax should be abolished. Actually it amounts to double taxation.

Fibre2fashion News Desk - India

Must ReadView All

Pic: Shutterstock

Textiles | On 20th Sep 2021

Turkmenistan, Uzbekistan agree to raise trade turnover to $1 bn

Uzbekistan and Turkmenistan recently agreed to raise bilateral trade...

Pic: Shutterstock

Textiles | On 20th Sep 2021

MPs, peers call on UK govt to ban fur sales & imports

Over 100 cross-party members of Parliament (MPs) and peers have...

Pic: Canopy Planet

Apparel/Garments | On 20th Sep 2021

Over 400 brands now part of Canadian organisation Canopy's initiatives

Canopy has announced that over four hundred brands and retailers are...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

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

Advanced Search