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Not much for textiles, says Arun Jariwala

28
Feb '07
Last year, allocation under Textile Upgradation Funds (TUFS) was to the tune of Rs577 crores against industry requirement of Rs1000 crores. Now, when the allocation has been raised to RsRs911 crore in 2007-08, there is going to be further backlog in terms of outstanding reimbursement, as past ones are yet to be cleared.

We can also expect some change in the release of incentives due to this, commented Jariwala over the phone to Fibre2fashion.

Also the reduction in the customs duties of polyester, yarns and raw materials like DMT, PTA and MEG will hardly matter as the question o anti-dumping duties has still to be contended with.

Rounding off, Jariwala says, “There is not much for textiles in this Budget 2007-2008.”

Fibre2fashion News Desk - India


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