Budget 2019: Expectations from textile industry

"As the previous government comes into power for the second time, the ambiance is strife with intrigue as to what new announcements would be made. With the onset of budget looming around the corner, many reforms are said to uplift the very framework of a business that one conducts business in, "Monica Oswal, Executive Director, Monte Carlo said.

The interim budget hadn’t brought great cheers to the textile segment- Finance Minister Piyush Goyal had initially proposed Rs 5,831.48 crore budgetary allocations for the textile ministry for 2019-20. This came as 16.01 percent lower than the current fiscal, worrying the textile players. One can hope that the recent budget would bring more financial allocations to bolster the industry, " Oswal added