CMAI’S REACTIONS TO THE BUDGET 25-26
Although no significant benefit or Scheme has been announced for the Textile Industry as such, I see a huge benefit for the Industry from two angles.
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On the Production side, the measures proposed for MSMEs, especially the Micro Sector, will certainly provide a boost to this Sector, especially the increase of various upper limits – though details are still not known.
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Launch of the Cotton Mission could be a big step;
Measures to improve competitiveness of Export Sector, Domestic Manufacturing Capacities, and Ease of Doing Business will all help give an impetus to Manufacturing:
Lowering of Basic Customs Duties on certain Textile Machineries will also provide an impetus.
On the Consumption side, the lowering of Income Tax at various levels will hopefully provide a huge increase in disposable income, increasing consumption;
Various changes in the TDS and TCS limits should also give an impetus to Consumption.
In conclusion, a big Thumbs Up to the Budget 25-26, provided of course there are no twists in the fine print!