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Union Budget 2007-2008 - Textile Sector

28
Feb '07
Union Finance Minister PC has just risen in the Parliament to read his Budget 2007-2008 speech. Fibre2fashion is previleged to bring his announcements and pronouncements on the Budget 2007-2008 live for textile sector.

Following are the highlights of P Chidambaram's presentation of the Indian Union Budget 2007-2008:

FM on Textiles: Integrated parks allocation up to Rs489 crore

TUF outlay hiked to Rs911 crore

FM On SMEs: Banks should regard credit rating while lending to SMEs

Allocation to handloom sector hiked to Rs321-cr

Indirect Tax Proposals: Duty on Cut and Polished diamonds from 5 to 3 percent

Coir industry is also on anvil for which, Rs23.55 crore has been allocated

Reduce customs duty on Polyester & Fibre to 7.5 percent

Coir industry modernisation provision at Rs22.5 crore

Allocation for textile parks up from Rs 189cr to Rs 425cr

100-150 handloom clusters to be taken up in FY'08

Duty on PTA, DMT, MEG cut to 7.5 percent

Watch , Umbrellas duty cut









Fibre2fashion News Desk - India


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