<p>The government, in the last budget, had reduced import duty on Chinese raw silk to 5 per cent from 30 per cent, hoping to increase the supply of raw materials to the domestic industry.<br /><br />Union Finance Minister Pranab Mukherjee and Commerce and Textiles Minister Anand Sharma informed a delegation of Union ministers and MPs from Karnataka that the government is studying the impact of the reduction in import duty on farmers and the industry.<br /><br />The delegation apprised the ministers that over 11 lakh farmers have been left in the lurch due to the price crash following the rollback of the import duty.</p>
<p>The government, in the last budget, had reduced import duty on Chinese raw silk to 5 per cent from 30 per cent, hoping to increase the supply of raw materials to the domestic industry.<br /><br />Union Finance Minister Pranab Mukherjee and Commerce and Textiles Minister Anand Sharma informed a delegation of Union ministers and MPs from Karnataka that the government is studying the impact of the reduction in import duty on farmers and the industry.<br /><br />The delegation apprised the ministers that over 11 lakh farmers have been left in the lurch due to the price crash following the rollback of the import duty.</p>
