Textile-Pre Budget comments and expectations – Visagar Polytex Ltd.

· ‘Achhe Din’ are expected by the Modi Govt in the upcoming budget 2016.

· Higher budget allocation is expected under Textile Upgradation Funds Scheme (TUFS) so as to allow for fresh investments in the sector. Also we feel that the Ministry should push for swift and timely disbursements of subsidy under this scheme.

· Being the top employing sectors, second only to agriculture, the Govt should provide for training and development of skilled labour force and bring in labour reforms as per modern age.

· Further, we expect reduction in excise duties on Man-made fibres. Also impetus should be given to exports by micro, small and medium scale industry. The Govt should also incentivize R&D, innovation by Indian companies which will be a major fillip to the industry.