The textile sector is likely to see a uniform rate under
Goods and Services Tax (GST), according to Union Textile Minister Smriti Zubin
Irani.Industry sources said that when asked about the GST, the Minister urged
the industry associations to give suggestions and views during meetings that
will be held in different cities shortly. She also indicated that there might
be a uniform rate across the value chain.
The minister took part in a meeting of the Parliamentary Consultative Committee
on development and modernisation of power loom sector and another one with the
industry associations. The Centre has allocated Rs52
crore for the powerloom sector in 2014-2015, Rs110 crore in 2016-2017, she told reporters.
It had introduced the PowerTex India scheme, which included subsidy for weaving
units that want to go in for solar energy, construction of dormitory for
workers. She urged the powerloom weavers to use the helpline to get guidance on
schemes and subsidies for the sector.Textile Commissioner Kavita Gupta said
that the outlay for the powerloom sector this financial year was Rs166 crore.
During the meeting with the industry, on the demand for removal of anti-dumping
duty on imports of man made fibre, the Minister asked the industry to collect
concrete data to support their plea.Regarding fluctuating yarn prices, the
Minister urged the powerloom sector to go in for the yarn bank scheme project
under the PowerTex India scheme.The Textile Commissioner added that the textile
policy is likely to be finalised shortly.
Source: Reuters, India Saturday, 29 April 2017