The textile industry has expressed its disappointment at the Budget 2024-25 presented yesterday by Finance Minister Nirmala Sitharaman. The budget fails to reduce the duties on imported raw cotton and polyester fiber as demanded by the textile industry, says Sanjeev Arora, Member of Parliament, Ludhiana.
The budget also does not fix the minimum import rate for all HSN codes for Chinese fabrics, thus failing to provide any reprieve to the ailing Textile Industry facing issues like rising unemployment and growing NPA accounts.
Further, the budget also fails to fulfill the demands of the tax payers, adds Arora.
