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India:Chidambaram’s call for reinforcement of growth and
equity to build a new India |
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2005-3-1
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 The Union Finance Minister P Chidambaram concluded his speech with these lines in his presentation today at the Parliament and we quote:
“Saint Tiruvalluvar who said:
“Pini Inmai Selvam Vilaivu Inbam Emam
Ani Enba Nattirkku Iv Iyndhu”
Translated as:
Health, wealth, produce, the happiness that is the result, and security,
These five, the learned say, are the ornaments of a polity." Unquote.
And what more could the the textile, apparel, garment, leather and related sectors ask for than the budget going on the expected lines, more or less!
Comparisions will surely be drawn between the pre budget analysis and the actual budget, and Mr Chidambaram may not have gone off the course, one can say.
He, on the whole, tried to address the issues that were hampering the progress of the textile industry in general and redressed the grievances of the industry.
There were anomalies like duty rationalisation in case of manmade fibres that has been a mixed bag for the industry, while schemes and subsidies have either found continuance (TUFS) or new ones introduced (10% Cap Subsidy Plan For Textile Processing Sector).
The industry reaction awaited so far, seems to be moderated by the shares of textile sector showing gains at the stock market.
Industry analysts deem the budget “good” to “as expected” as preliminary reactions emerge, but there''s more to follow.
Keep reading for more, then!
Meanwhile, take a good look at the Speech of Mr P Chidambaram, specially the text related to the textile, apparel, garment, leather and related industries highlighted in red, in the PDF file. |
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