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Budget, 2018 the government has given prominence to Textiles sector

Ref. CEPC/HQ/ED-Corres./2017-18      Dated :   1st February  , 2018

Mahavir Pratap Sharma, Chairman, CEPC has expressed his happiness that in Budget, 2018 the government has given prominence to Textiles sector and has made greater provisions of Rebate of State Levies (ROSL)  remissions.  The special attention of flexibility to MSME is motivating as the exporters have struggled in the last 8-9 months and these initiatives will give them some respite:

  • 7,148 Cr support for Textile sector in 2018-2019.
  • 3,794 Cr allocated to MSME , online loan sanction facility to MSMR and stressed fund in MSME,
  • 1,663.85 Cr for Remission of state levies top create export incentive to exporters
  • Increased Rebate of State Levies (ROSL) in budget increases the hope of the exporters for getting it soon. An additional subsidy reimbursement of state taxes.

Shri. Sharma thanked government for these morale booster & proactive steps of great interest of exporting community. He added “Focus on Textiles & ROSL allocations in Budget may give breather to Exporters”

Siddhnath Singh, 1st Vice-Chairman of the council said that at this juncture of time these support will work as oxygen for the exporters and exporting community are expecting some more measures in future.

Sanjay Kumar, Executive Director of CEPC further added that the attention to healthcare, infra and education needs a special mention and thanks hon’ble Finance Minister on behalf of exporting communities specially for supporting Micro, Small & Medium Sector.

Feb-01-18