Budget Wishlist - Mr. Paritosh Agarwal - MD, Suryalakshmi Cotton Mills Ltd

- Excise duty on branded readymade garments should be scrapped.

- Adequate funds should be allocated for the Technology Up gradation Fund Scheme (TUFS) so that all the sanctioned projects and those that were unable to benefit when the scheme was revised could also get financial assistance from it. The Union Government must continue the accessible voluntary system for excise duty.

- The government must eliminate customs and excise duties on all machinery for textile and clothing industry.

- Product expansion has been the key to success in the international fashion ring and it would be crucial to allow this advantage to all garment exporting units irrespective of their structure status.

- Interest subvention rates on exports of readymade garments should be increased and on yarn and fabric should be introduced.

- Export incentives like duty drawback, focus product and focus marketing rates should be increased.

Source : Equity Bulls

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