A 2% tax subvention on pre-shipment and post shipment credit to exporters, as announced in the interim Budget 2009-10, will not help the textile sector, say exporters. They pointed out that the lack of any measures to uplift the labour intensive textile sector, ignored by the government in the stimulus packages as well, will demotivate the export fraternity. Exports of readymade garments, projected at Rs 25,000 crore for the current financial year, have already dipped by 10% in the past three months.
For More Subscribe Now >>