Economy

Textile sector's concern on 10% levy conveyed to Govt

PTI Mumbai | Updated on March 16, 2011

The excise levy of 10 per cent proposed in the budget on branded garments would be examined and some balancing measures would be taken, a senior Government official said.

“The proposed excise increase in the budget will be looked upon; some balancing measures will be in place,” the Textile Commissioner, Mr A.B. Joshi, said at a textile industry event – InFashion 2011 –here on Wednesday.

The industry's concerns on the issue have been conveyed to the Government, he said. “We have conveyed the industry apprehensions to the government and we will make our best efforts to convince the policy-makers to keep the best interests of the sector at heart. Some balancing acts will be seen in the near future,” he said.

The Finance Minister, Mr Pranab Mukherjee, in his budget last month, proposed levying a 10 per cent excise duty on branded garments, a move the industry feels will impact it adversely.

Published on March 16, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor