Textile ministry has moved ahead to urge government for extending the benefits of at least 2% interest subvention to garment industry that was purely ignored with the general proposals given in the budget 2010-11, forwarded by Mr. Pranab Mukherjee, Minister of Finance, recently in Parliament.
Garment sector, we believe has been very much neglected by not being provided extention of 2% subvention. The matter is being taken up to the ministry of commerce, expressed Textile ministry Sectretory, Rita Menon in New Delhi during a function organized by VDMA Germany machinery manufacturers association and FICCI.
The proposal has already been taken up with the minister of finance and the points related with the provisioning of funds with the ministry of commerce with the view that most of the requirements of garment manufacturers of India should be given priority through the instruments of Budget given by the ministry of commerce , added Menon.
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