Tuesday, November 24, 06:16 am IST
Hot Searches:  mukesh ambanisugarforbes rich list
| Feedback
Moneycontrol » News Center » Business » Economy
Textile sector on strong footing post TUF extension
Published on Wed, Feb 28, 2007 at 14:10   |  Updated at Wed, Feb 28, 2007 at 14:58  |  Source : Moneycontrol.com

The Budget has left the textile sector smiling with extension in the TUFS Scheme.

The FM also announced a hike in provision for Textile Parks from Rs 189 crore to Rs 425 crore. The government will also provide Rs 911 crore for the textile technology fund.

Further, the customs duty on polyester fibre and yarns has been cut from 10% to 7.5%.

Nagarajan Narasimham of Crisil says, "Textiles is a definite beneficiary. We looked at the outlay almost increasing by about 60-70% and the sheer fact that it is being continued for next few years is a definite positive. Also, reduction in duties on raw materials on the manmade fibre side both the intermediate and the final product is a definite positive for the sector."

 

Important Links Today:  Leadership Wall    Chat Calendar    The 10 List   
WHAT OTHERS LIKE
  • Most Read
  • Most Viewed
©Network 18, 2009. All Rights Reserved