Home Big Biz Budget 2019: Textiles Min FY’20 allocation reduced to Rs 5,831.48 cr

Budget 2019: Textiles Min FY’20 allocation reduced to Rs 5,831.48 cr

By
Diksha Yadav
-
0
Budget 2019: Textiles Min FY’20 allocation reduced to Rs 5,831.48 cr
Budget 2019: Textiles Min FY'20 allocation reduced to Rs 5,831.48 cr

Rs.1,000 crore has been made towards the Remission of State Levies (ROSL) whereas Rs. 700 crore has been allocated for the Amended Technology Upgradation Fund Scheme (ATUFS) for the next fiscal year.

Budget 2019: Textiles Min FY'20 allocation reduced to Rs 5,831.48 cr
Budget 2019: Textiles Min FY’20 allocation reduced to Rs 5,831.48 cr

An amount of Rs 5,831.48 crore has been allocated by the Finance Minister, Piyush Goyal for the textile ministry for 2019-20. The amount is 16.01 per cent lower than the current fiscal year. According to the budget document shown in Parliament on February 1, the revised expenditure for the textile ministry has been fixed at Rs 6,943.26 crore during 2018-19. The original budget proposal was Rs. 7,147.73 crore for the funding of various programmes and schemes for the textile industry.

According to Confederation of Indian Textile Industry Chairman Sanjay Jain, the low allocation for ATUF & ROSL schemes for textiles is disturbing as it is not sufficient to meet obligations under the projects. He further added that since this is an interim budget, they hope more funds will be allocated for these schemes.

Budget 2019: Textiles Min FY'20 allocation reduced to Rs 5,831.48 cr
Budget 2019: Textiles Min FY’20 allocation reduced to Rs 5,831.48 cr

According to the budget document, Rs.1,000 crore has been made towards the Remission of State Levies (ROSL) whereas Rs. 700 crore has been allocated for the Amended Technology Upgradation Fund Scheme (ATUFS) for the next fiscal year.

Previous article MP cadre IPS officer appointed new CBI director
Next article Which Tennis Player Has The MOST HOPMAN Titles?
Diksha Yadav
I am Diksha Yadav, Currently pursuing my Post Graduate Diploma in English Journalism from Indian Institute of Mass Communication. I have interned in The Hindu(Features Department) and W5 Communications(Public Relations). I have also worked as a PR professional in PRIntel Advisory where I was handling Homekraft, Amplus, MoMagic, and other corporate clients and was responsible for developing the first line of communication with media for press coverages. Besides, I had worked as a content writer in Buddymantra, Portology, Aviity, and UC News. My areas of work is to deliver first-hand reports, media coverages, reporting, editing, making newspapers, magazines, anchoring, script writing and creating content in different genres. I also have knowledge of Quark and InDesign (Basic). I am quick in developing solid media relations across regions and develops brilliant content for clients for media dissemination. Currently, I am working as a freelance writer in TheTimesBusiness.com.