Policies

Interim Budget’s Infra Push And Measures To Boost Rural Consumption Likely To Revive Textile Demand

Textile Insights February 13, 2024

The domestic textile and apparel sector has welcomed the Interim Budget 2024 presented by the Union Finance Minister Nirmala Sitharaman, even as it fails to meet the expectations in a true sense.  Industry players and observers believe that some of the macro-economic initiatives and measures in

Industry

CITI Welcomes 27.6% Hike In Textile Sector Budget Allocation

Textile Insights February 2, 2024

Confederation of Indian Textile Industry (CITI) welcomed the budget allocation for textiles which has increased by 27.6 percent, largely due to the allocation of Rs 600 crore for Cotton Corporation of India (CCI) towards cotton MSP operations. CITI Chairman Rakesh Mehra expressed hope that the cotton procurement will be as per revamped policies recommended by […]

Policies

Budget Extends RoSCTL Scheme For Apparel & Made-Up Exports

Textile Insights February 2, 2024

Finance Minister Nirmala Sitharaman in her interim budget has continued the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparels and made-ups until March 31, 2026. The RoSCTL, whose budgetary allocation has been increased by 10 percent, has proven to be instrumental in enhancing the competitiveness of Indian […]

Policies

Key Takeaways Of Indian Interim Budget For Fiscal 2024-25

Textile Insights February 1, 2024

Today Finance Minister Nirmala Sitharman presented the interim union budget for fiscal 2024-25. The Finance Minster did not make any changes in direct and indirect taxes including import duties. Key takeaways of her speech include; Revised Estimates Fiscal 2023-24 Total receipts – Rs 27.56 lakh crore Tax receipts – Rs 23.24 lakh crore Total expenditure […]