The Union Budget announcement on Monday reducing Customs Duty on steel and ferrous and non-ferrous scrap is expected to bring down raw material prices for the engineering units in Coimbatore.

The textile industry on Monday welcomed the Union Budget presented by Finance Minister Nirmala Seetharaman, particularly the announcement on textile and apparel parks.

Coimbatore: “When exporters are taking efforts to revive from COVID-19 impact, the increase in prices of cotton yarn coupled with its intermittent supply in the last two months has triggered a reversal of trend.

Pradip Kumar Tripathi, an IAS officer of 1987-batch of Jammu & Kashmir cadre, has been given additional charge of Secretary, Ministry of Textiles, with immediate effect. Since June 1, 2020, Tripathi is serving as Secretary, Ministry of Steel. Tripathi will serve the textiles ministry till the appointment of a regular incumbent or until further orders.

New Delhi: Finance Minister Nirmala Sitharaman will table the Economic Survey 2020-21 in Parliament on Friday, two days before the Union Budget is presented during the budget session of Parliament.