The Union Budget 2020-21 has earmarked an all-time high allocation of Rs 7,572.20 crore for the Ministry of Micro, Small and Medium Enterprises while announcing a string of initiatives for the sector including raising the turnover threshold for audit of their accounts to Rs 5 crore and a scheme to provide subordinate debt to MSME entrepreneurs.
Abolition of anti-dumping duty on PTA (Purified Terephthalic Acid) is a step in the right direction, say textile industry sources.
Coimbatore, Feb 1 : Captains of various sectors of industry Saturday welcomed the Union budget and provided suggestions to the finance minister, Nirmala Seetharaman.
Budget 2020 India: Appreciating the focus on agriculture and farmers welfare, wellness and education and skills, Shanmugham, in a statement, said the measures announced in the budget would help overall development of economy.
PUNE: Reacting to the Union budget proposals 2020-21, Mr.Ashwin Chandran, Chairman, The Southern India Mills’ Association (SIMA), Coimbatore, in a Press release issued here today, has thanked the prime minister for favourably considering the long pending demand of the industry and abolishing the anti-dumping duty being levied on Purified Terephthalic Acid (PTA) imported from different countries including China, Indonesia, Taiwan, Iran, Malaysia.
Prime Minister Narendra Modi on Saturday termed the Union Budget 2020 as a one based on vision and action oriented, adding that the Budget focuses on the MSME sector and exports.