Interviews
Budget not upto expectation - JCT Limited
29 Feb '08
1 min read
After Union budget 2008-09, Mr Sanjeev Jain, Head Finance Department of JCT Limited, told Fibre2fashion, "Nothing much has been given to textile industry."
Mr Jain further stressed, "We were expecting correction of excise duty structure invested on nylon filament yarn, which has not been given. It is a major disappointment for textile industry.
Secondly, we were also expecting duty exemption on synthetic and blended fabrics which would bring at par with cotton textile, however, that has not been fulfilled.
Further, it was expected that textile exporters who were earlier hit by Rupee appreciation, would get some relief or concession, has not been done.
However, TUFS has been extended which we welcome with an open heart."
According to him, overall textile industry is not much satisfied with budget.
Mr Jain further stressed, "We were expecting correction of excise duty structure invested on nylon filament yarn, which has not been given. It is a major disappointment for textile industry.
Secondly, we were also expecting duty exemption on synthetic and blended fabrics which would bring at par with cotton textile, however, that has not been fulfilled.
Further, it was expected that textile exporters who were earlier hit by Rupee appreciation, would get some relief or concession, has not been done.
However, TUFS has been extended which we welcome with an open heart."
According to him, overall textile industry is not much satisfied with budget.
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