Date:08/07/2009 URL: http://www.thehindu.com/2009/07/08/stories/2009070860671300.htm

National

Maran to take up textile sector grievances with Pranab

Special Correspondent

NEW DELHI: Union Textiles Minister Dayanidhi Maran on Tuesday hailed the budgetary proposals as being full of “growth-spurring initiatives” for the textile sector and assured the industry that he would take up its grievances and suggestions with Finance Minister Pranab Mukheree.

“The Finance Minister has accepted more than 90 per cent of the recommendations of the Textiles Ministry, which were based on the suggestions of the industry. If there are any anomalies or suggestions for further improvement, I will take it up with the Finance Minister. I will hold a meeting with the industry soon for this purpose,” he said at a press conference.

Excise duty

Asked about the disappointment expressed by the industry over the increase in the mandatory excise duty on man-made fibres, filaments and their raw materials, from 4 per cent to 8 per cent, on the grounds that it would make the fibres even more uncompetitive than they already were, Mr. Maran said he would take it up with Mr. Mukherjee. “The Finance Minister can modify the proposals if needed. The government is keen to give a boost to the textile sector. We are aiming at a growth rate of 7 to 8 per cent . We will do everything possible to achieve that.”

Mr. Maran said the budget proposals should be treated as the third stimulus package and read in association with the earlier two packages. This was also not the last set of initiatives.