gateway

Saturday, 06 July 2019 12:51

Budget lowers textile grants

Rate this item
(0 votes)

In the budget, the grant for textile and apparel is about 30.41 per cent lower than the previous year’s revised grant. This is mainly because of the discontinuation of ROSL scheme from March 7, 2019. The new scheme called Rebate of State and Central Taxes and Levies which was announced simultaneously will be issued through free transferable scrips. In terms of percentage change, the maximum change in grant is for the Integrated Wool Development Program, which has increased by about 447 per cent.

In terms of value, the maximum grant is for procurement of cotton by the Cotton Corporation of India, which is 118 per cent higher than the last year. There has been a slight increase of about 12.4 per cent in the Amended Technology Upgradation Fund Scheme. For the handicraft development program, the grant has been increased by about 18.9 per cent. For silk and jute, the grant has been increased by 23.2 per cent. The power loom sector has got an increase of 49.8 per cent in the total grant. The grant for the Integrated Scheme for Skill Development has been increased by about 139.3 per cent.

The textile sector in India is the biggest employer after agriculture.