Now Reading: Tamil Nadu Budget: Textile industry welcomes Rs 1,678 crore outlay
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Tamil Nadu Budget: Textile industry welcomes Rs 1,678 crore outlay
Tamil Nadu Finance Minister presented the State Budget on Wednesday, allocating Rs 1,678 crore for Handlooms and Textiles, Rs 2,022 crore for Labour Welfare and Rs 4,414 crore for the Industries Department.…
The Story in Brief
Tamil Nadu Finance Minister presented the State Budget on Wednesday, allocating Rs 1,678 crore for Handlooms and Textiles, Rs 2,022 crore for Labour Welfare and Rs 4,414 crore for the Industries Department. The textile industry in Coimbatore and Tiruppur districts welcomed the announcements. Southern India Mills Association chairman Durai Palanisamy said the allocations would trigger investments.
However, some entrepreneurs said the Budget did not address demands for a 50% reduction in fixed electricity charges and waiver of solar network charges, as reported by The Hindu. The Tamilnadu Weavers Association's Federation called the Rs 1,678 crore textile allocation a welcome measure.
The Indian Opinion
Claims that the Tamil Nadu budget is universally welcomed by industry ignore the unresolved demand for a 50% reduction in fixed electricity charges, which have risen 480%. The government's election promise on this remains unfulfilled. A concrete test will be the next tariff order from the electricity regulator: will it include that reduction, or will industry patience wear thin?
Source: thehindu.com
This story was synthesised by AI from the source linked above.
