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Mumbai, March 4 Textile industry bodies expressed disappointment with the Union budget, for not giving enough relief to the exporters. The Synthetic & Rayon Textiles Promotion Council (SRTEPC) and Indian Textile Accessories’ & Machinery Manufacturers’ Association (ITAMMA), both expected the Finance Minister to allot an increased allocation in the Technological Upgradation Fund Scheme.

“I appreciate the abolition of the National Calamity Contingent Duty both excise and customs on polyester filament yarn. However, much more could have been done for the man-made fibre textiles sector that is reeling under the impact of the rupee appreciation against the dollar,” said Mr Sanjeev Saran, Chairman, SRTEPC.

He added that refund of State level taxes and exemption of service tax on some important export related expenses were also not addressed.

The industry’s expectations of a one-year moratorium on repayment of loans taken by the sector and the removal of Fringe Benefit Tax were not met with, said a statement.

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