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PRESIDENT'S MESSAGE

The Hon’ble Union Minister of Finance Shri. Piyush Goyal presented the Interim Union Budget 2019-20 in Parliament on 1st February 2019 and the budget was pragmatic and people oriented budget. The total allocation to the Textile Industry has been Rs.5,831 Crore and out of this, the allocation to ATUFS and ROSL are Rs.700 Crore and Rs.1,000 Crore respectively.

The concern is that ROSL allocation of Rs.1,000 crore is lower since the apparel exports per annum is hovering around Rs.1,10,000 Crore and with the existing ROSL rate at 1.7%, the amount required would be Rs.1,700 Crore.

We hope that the allocation would be revised upwards in the regular Union Budget 2019-20. .... Read More

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