The Indian textiles and clothing industry has broadly welcomed the
Union Budget 2021-22 presented by finance minister Nirmala Sitharaman in Parliament on February 1. Setting up of 7 mega textiles parks under MITRA, and reducing duty on nylon raw materials are welcomed by all trade bodies, while there is a mixed reaction to 10 per cent import duty on cotton.
The grant to the
textiles and clothing sector in Union Budget 2021-22 is ₹3,614.64 crore, which is about 10 per cent higher than the revised budget of ₹3,300 crore in 2020-21. The budget also puts emphasis on Infrastructure Development and Research & Capacity Building as the grant for these sectors has been increased by about 43.7 per cent and 77.5 per cent respectively as compared to last year. Share of these sectors in total textile and apparel budget allocation for 2021-22 stands at about 6 per cent and 10 per cent respectively.
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Govt expects around Rs 18,000 crore investment in the electronics manufacturing segment by 2021-22
The finance ministry has allocated Rs 2,631.32 crore for various schemes to boost electronic manufacturing in the country.
Feb 02, 2021 16:34:07 IST
The government has set a target to get around Rs 18,000 crore investment in the electronics manufacturing segment by 2021-22. The finance ministry has allocated Rs 2,631.32 crore for various schemes to boost electronic manufacturing in the country, including Production Linked Incentive (PLI) scheme, Modified Special Incentive Package Scheme (MSIPS), Electronics Manufacturing Cluster (EMC) scheme and electronic development fund.
The government has set a target of getting incremental investment by mobile companies and electronics manufacturing units approved under the PLI scheme of Rs 1,000 crore and expects one lakh people to be employed by the approved companies till FY 2021-22.
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