SIMA hails interim budget 2019-20

PNataraj, Chairman, The Southern India Mills’ Association (SIMA), has welcomed the announcement
of Rs 6,000 per year for the farmers having below two hectares of land under Prathan Mandri Kisan Samman Nidhi Programme giving effect from December 1, 2018 as the same would benefit millions of cotton farmers. He has stated that the cotton crop got affected in certain States and this amount would benefit the farmers.

Nataraj has welcomed the announcement of pension scheme
for the workers in the unorganised sector enabling such workers to receive Rs 3,000 per month as pension after attaining the age of
60 years as the textile industry is predominantly in the unorganised sector. He has stated that the scheme would largely benefit the weavers
of handlooms and powerlooms.

SIMA chief has also welcomed the decision of doubling the income tax exemption limit from Rs 2.5 lakh per annum to Rs 5 lakh per annum apart from enhancing the standard deduction limit from Rs 40,000 to
Rs 50,000 etc., as the same would benefit several lakhs of middle class employees of the textile industry.

Nataraj has stated that the substantial reduction in the budget allocation for RoSL and A-TUFS benefits would have serious impact on textile industry.