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.

Union Budget 2020 India: Captains of various sectors of industry on Saturday welcomed the Union budget and provided suggestions to the Finance Minister Nirmala Seetharaman. President of Tirupur Exporters’ Association Raja M Shanmugham termed the budget as a people-oriented one. 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. He said the allocation of Rs 100 lakh crore for investment in infrastructure would lead to cut in logistics cost.

“As of now, poor logistics is one of the hindrance factors for attaining the export competitiveness by our units,” he said. Welcoming the proposal of setting up a National Technical Textile mission at an outlay of Rs 1,480 crore, he said it would boost the manufacturing of technical textiles in the country, he said. The fund allocation for the Amended Textile Upgradation fund was only Rs 761.90 crore when the pending claims to the industry is to the tune of Rs 8,500 crores, he said and added that this would not attract the industry to go for modernisation.

Published On : 01-02-2020

Source : Financial Express