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The Budget has provided relief to the agriculture sector and individual tax payer but missed out in providing something substantial to the industry. The textile industry which is already under pressure due to increasing raw material costs, obsolete machinery, appreciating rupee and domestic inflationary pressure has nothing to look forward to.

Even, the marginal increase in the allocation for Technology Upgradation Fund (TUF) from Rs 911 crore to Rs 1,090 crore is too little.

Mukund Choudhary MD, Spentex Industries

More Stories on : Letters | Budget | Textiles

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