The current budget for 2015-16 is considered as growth oriented by various experts, but I think for textile Industry, it is not very promising budget. The Government´s vision of growing Indian textile and apparel industry to US$ 220 billion by 2020 needs more support and schemes from government. Unfortunately major demands of Industries have not been met in current budget.
Browsing: Budget 2015-16
The Hon?ble Minister was apprised that while Textile Industry was expecting a strong focus from the Government, however, there was no mention of it and nothing was done in the Budget to improve the health of the Textile sector.
Saurabh Patel, Finance Minister, has announced in Budget 2015-16 that the Government of Gujarat will impose five per cent tax on technical textiles. The proposal to impose tax on technical textiles will bring additional tax revenue of approximately Rs 80 crore, Patel said.